Worried About Debt Limit? The Bond Market Isn’t: Caroline Baum
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July 15 (Bloomberg) -- Failure to raise the U.S.’s $14.3trillion debt ceiling by Aug. 2 “could plunge the world economyback in recession,” President Barack Obama said. TreasurySecretary Timothy Geithner called it “unthinkably damaging,” andFederal Reserve Chairman Ben Bernanke said congressionalinaction could result in “a huge financial calamity.”
Everyone from Warren Buffett to Bill Gross to Robert Rubinis weighing in, calling it totally irresponsible.