Monday, October 14, 2013

Three Days (Maybe) and Counting

Okay, Congress.  This is it.  We're down the the wire now.  You need to come up with something, and you need to come up with it today.  Even if  you do come up with it today Ted Cruz will probably delay it until after the technical deadline and we will (theoretically) breach the debt ceiling.  In fact, doomsday has probably been postponed till the end of the month.  And I suspect that even if it hasn't, a short breach will be survivable, especially if the markets can see Congress working to end it.  The biggest danger may be to the credibility of the Treasury and others warning of doom, which will only make a future breach more likely.

So please, Congress.  This is it.  You've got to come up with something.

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