Three Days And Counting Until Debt Ceiling Reached

DefaultThe countdown to the U.S. government brush with debt ceiling this week is the top economic news — not just in American markets, but all over the world. Thursday, Oct. 17, is the day that Jack Lew has said he will run out of room under the debt ceiling. Contrary to popular belief, it does not mean that the U.S. will default on its debt on Thursday if Congress doesn’t raise the debt limit before then. Instead, Oct. 17 is when Lew anticipates being unable to issue new debt. Since May, when the…

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