When will debt ax fall?
President Obama and Republicans in Congress are headed for another standoff over the national debt. But first, they need a deadline. The Treasury Department now has free rein to finance the federal government through borrowing, with the ceiling that limits the total debt suspended until March 15. On that date, the debt ceiling will again take effect, and the overall limit will be automatically raised to cover all of Treasury’s borrowing. Analysts expect the increase will amount to roughly $1 trillion, pushing the debt limit to over $18trillion ….Read More