Wednesday, July 27, 2011

Obama aide: Aug. 2 is real deadline

The White House says Aug. 2 -- also known as Tuesday -- is really the date for a possible government default.
"That's not a political opinion," White House spokesman Jay Carney said today. "It is the judgment of career analysts at the Treasury Department."
"Beyond that date," Carney said, "we lose our capacity to borrow. We give up our borrowing authority without action by Congress. And the result of that risks default."

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