It is that time of the year and we are heading for another episode of the debt ceiling drama. Secretary Yellen used the words “catastrophic default” recently while referring to her estimate that the treasury will run out of money in August when Congress is in recess. Thus, she needs Congress to raise the debt ceiling by July 31st so we can service existing debt by issuing more debt.
Catastrophic default and other stories
Catastrophic default and other stories
Catastrophic default and other stories
It is that time of the year and we are heading for another episode of the debt ceiling drama. Secretary Yellen used the words “catastrophic default” recently while referring to her estimate that the treasury will run out of money in August when Congress is in recess. Thus, she needs Congress to raise the debt ceiling by July 31st so we can service existing debt by issuing more debt.