December 23, 2013


Debt Fight Looms in 2014

President Obama and Congress "will be plunged into another battle over the debt ceiling when they return to Washington from the holiday break," The Hill reports.

"Due to October's government shutdown, Congress needs to act on an increase in the $16.7 trillion borrowing limit far sooner than expected. Rather than the summer deadline that was once predicted, the Treasury will now only be able to stave off a default until early March, at the very latest. Treasury Secretary Jack Lew says he sees no 'reasonable scenario' in which he could buy more time."










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