Can Congress Avoid Another Shutdown? How About a Default? – Bloomberg

Can Congress Avoid Another Shutdown? How About a Default? – Bloomberg

Can Congress Avoid Another Shutdown? How About a Default?  Bloomberg

We're about to see a string of scare stories about a new government shutdown, a default on U.S. debt or both. The relevant deadlines aren't until the fall, but the warnings are already popping up. Here's some good news: There's no need to panic. Probably. Of the three looming deadlines, the most dangerous is the debt limit. If Congress doesn’t act by some point in the fall – exactly when depends on how fast the government spends money and how revenue rolls in – the U.S. will no longer be able to borrow and could be forced to default, with unknowable but frightening consequences. So far, tho...

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