Seeking Alpha

U.S. has until late next month to increase debt limit

  • Congress has until late February to lift the $16.7T debt ceiling and avert a U.S. default, Treasury Secretary Jacob Lew said yesterday.
  • During the last brouhaha over the matter in October, the cap was suspended until February 7. From that point, the Treasury will be able to juggle the money about for a bit to stave off a default before running out of cash.
  • The question is how much the GOP will try to use the debt limit to try to extract concessions from the Democrats, such as with a decision on the Keystone XL pipeline.
  • "The speaker has said that we should not default on our debt, or even get close to it, but a clean debt-limit increase simply won't pass the House," said Michael Steel, a spokesman for House Speaker John Boehner.
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  • mitrado
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    23 Jan 2014, 06:44 AM Reply Like
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