Wealthier Americans mean a bigger bond market

Wealthier Americans mean a bigger bond market

More liquidity means more debt

Top 10 fastest growing cities in the nation

Most already home to thousands of millennials

3 reasons why California housing is about to go bust

The money is drying up
W S
Investments / The Ticker

Treasury Secretary: Debt limit will be reached by Oct. 17

government meeting room
/ Print / Reprints /
| Share More
/ Text Size+

According to CNBC, U.S. Treasury Secretary Jack Lew told Congress Wednesday that the government will exhaust its borrowing capacity no later than Oct. 17. Once the capacity limit is breached, the nation will have only about $30 billion in cash on hand.

The fresh estimate came in a letter to congressional leaders in which Lew urged them to move swiftly to raise the nation's $16.7 trillion debt limit.

"If the government should ultimately become unable to pay all of its bills, the results could be catastrophic," Lew said.

Source: CNBC
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus