The U.S. Treasury Department may have more time than economists previously estimated before the government’s debt limit is reached as changes in tax policy and an economic rebound boost federal revenue.
Fannie Mae and Freddie Mac may send the Treasury Department enough money in June to extend by a month government operations under the debt ceiling, giving Republicans and Democrats more time to hammer out solutions to the nation’s finances.
In 1980, the U.S. economy was in the middle of a severe downturn, and jobs weren’t easy to find. So Lou Crandall , after earning a bachelor’s degree with a focus on economics from Cornell University, scattered resumes far and wide. One went to an employment agency looking for bilingual workers. Crandall had spent five years of his boyhood in Italy, where his father taught in an American school, and was fluent in Italian, Bloomberg Markets magazine reports in its January issue.
The United States of America isn’t going to default on its debt, even if Congress doesn’t increase the statutory borrowing authority in the next couple of months. Everyone in Washington knows, or should know, this. Any assertions to the contrary are tantamount to -- perish the thought! -- playing politics with the debt ceiling.