Oct 3, 2013

That October 17 Deadline You're Hearing Isn't Exactly Accurate

     In the media coverage of the government shutdown-debt ceiling crisis one thing keeps bothering me. Reporters keep saying that the government may remain shutdown until we reach the debt ceiling on October 17 and Armageddon will follow. Armageddon will follow if we ever get to the debt ceiling but that's not going to happen while the government is shutdown or at least not on October 17. Because the government is shutdown, far less money is going out of the Treasury. This keeps pushing the debt ceiling deadline into the future. The Treasury Secretary's message to Congress that included the October 17 date is accurate "unless [a government shutdown] continues for an extended period of time."

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