Analysts for major financial services company UBS say the United States Treasury has enough money on hand to service debt until August 10th — more than a week longer than Barack Obama and Senate Democrats have repeatedly claimed. We wouldn’t add more to the $14 trillion+ national debt, but we’d continue to make our expected payments on current debt.
What does that mean? We wouldn’t default and bring on the apocalypse if we’re still lacking a deal by August 2nd. The Treasury will continue making payments, we’ll continue to meet our obligations, the markets won’t crash, and the partisan wrangling can go on. At least for 8 more days than previously claimed.
In fact, the Treasury has already moved the deadline once. A few numbers were moved around and, voila, the deadline was pushed back to August 2nd. Now, apparently, we’ve got until August 10th. Which brings us to an important question: Is a deadline really a deadline if it can be moved so easily and often?


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[...] UBS says Democrats are wrong about the debt ceiling deadline. And markets have little reaction to prolonged [...]