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> They have some idea that August 2 is not really a hard deadline ... What happens on August 2 is that the United States of America runs out of cash. This seem
by splat 15y ago
> They have some idea that August 2 is not really a hard deadline ... What happens on August 2 is that the United States of America runs out of cash.
This seems to conflict with this article [1]:
> But several new reports — from UBS, Barclays and Wells Fargo — have cast doubt on that estimate. Analysts have said that daily tax receipts have been higher than anticipated and that the Treasury has quite a bit of cash on hand.
It only adds a few extra days, to be sure, but the deadline is not as hard as the OP makes it out to be.
[1] http://www.washingtonpost.com/business/economy/us-could-avoid-default-a-few-days-longer-new-reports-say/2011/07/25/gIQAUqocZI.html http://www.washingtonpost.com/business/economy/us-could-avoi...
- blahedo 15y agoRather, it's just as hard, but not as certain when it will hit. If you're speeding towards a brick wall at 60mph and you think you're 1000 feet away, and someone says "aha, you might be as much as 1500 feet away!", this does not mean the brick wall is suddenly a feather pillow.
- brown9-2 15y agoThe main point is still the same though: the debt ceiling has already been hit, the popular perception of the significance of the August 2nd date is incorrect.