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On-and-Off-and-On-Again Progress Toward a U.S. Debt Ceiling Agreement
It is our view – with high conviction – that the recent on-and-off-and-now-on-again negotiations will result in a debt ceiling deal ahead of the U.S. Treasury’s “X date” on June 1 (i.e., the estimated date when the federal government would no longer have enough funds to pay its bills) – although possibly not until the (literal) eleventh hour. After all, while neither side seemingly has a political incentive to make concessions before they absolutely have to, neither side has any political incentive to default either. To use an apt, albeit graphic analogy: Passing the debt ceiling is like passing a kidney ... (full story)
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- May 24, 2023 4:05am May 24, 2023 4:05am
- Headland
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- May 24, 2023 4:44am May 24, 2023 4:44am
- dantpm
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