April 05, 2011


The Next Big Battle

Mark your calendars: The United States will hit the legal limit on its ability to borrow no later than May 16, ramping up pressure on Congress to act to avoid a debt default.

Reuters notes the Treasury "has authority to take certain extraordinary measures to postpone the date the United States would default on its obligations. However, those actions would be exhausted after about eight weeks and there would be 'no headroom' to borrow after July 8."










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