Worried About Debt Limit? The Bond Market Isn’t: Caroline Baum

July 15 (Bloomberg) -- Failure to raise the U.S.’s $14.3 trillion debt ceiling by Aug. 2 “could plunge the world economy back in recession,” President Barack Obama said. Treasury Secretary Timothy Geithner called it “unthinkably damaging,” and Federal Reserve Chairman Ben Bernanke said congressional inaction could result in “a huge financial calamity.”

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