For months, markets have been girding themselves against the possibility that the U.S. will reach the limits of its borrowing ability on August 2 and default on its debts. However researchers at Barclays Capital reckon the absolute deadline may not be until a week later.In a notice published Friday, the Barclays Interest Rates Research team wrote that “the date on which the Treasury will run outside of cash to pay its obligations might not be August 2; it might be encircling August 10 instead.”Why the alter? The notice clarifies that previous projections showed the Treasury running outside of money on the morning of Wednesday, August 3. On that day, it was predicted, the Treasury would demand to spend $32 billion, including $22 billion in Social Security payments — and it was only projected to have $30 billion at its disposal.Glance at More…
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