The U.S. government can push back a default a month or more after the Aug. 2 deadline set by the...

|By:, SA News Editor

The U.S. government can push back a default a month or more after the Aug. 2 deadline set by the Treasury Department, Wells Fargo chief economist John Silvia says. The Fed and Treasury can work together to generate enough cash "probably for the next two or three months," adding credence to reports that the U.S. is telling big banks a default won't happen. (earlier: I, II)