Arab Today, arab today us has room to move on debt deadline
Last Updated : GMT 14:10:19
Arab Today, arab today
Arab Today, arab today

US has room to move on debt deadline

Arab Today, arab today

Arab Today, arab today US has room to move on debt deadline

Washington - AFP

Strong tax receipts mean the United States will have up to two extra weeks after the August 2 target date before it could be forced to default on obligations, analysts said Tuesday. The US Treasury has said repeatedly the August 2 is when its spending commitments will definitely outpace receipts, unless the country\'s borrowing ceiling is raised by then. On Monday night President Barack Obama repeated the date, urging Congress to raise the ceiling to avoid forcing the country to renege on its debts. But economists studying the actual pace of cash inflows into the government say there is room to move. Wrightson ICAP said they think August 15 is \"the critical deadline from a cash-flow perspective.\" \"It still looks as though they\'ll have enough cash in August to fund operations into the second week of the month,\" their chief economist Lou Crandall said. Barclays Capital Research puts the do-or-die date at August 10. \"It now appears that tax receipt inflows from July 14 to date have been considerably stronger than we were expecting,\" Barclays analysts said last week. Barclays said that Treasury collections in the July 14-19 period were about $14 billion higher than originally forecast. At that pace, the government could continue to operate normally for another week or more. While there is much talk of a looming default on debt, the markets have indicated the government should have no problem rolling over existing debt in the next few weeks. The government will first feel the pressure to cut spending on regular operations from August 2, or whenever the crunch comes. Rising obligations to make other payments will cause a squeeze -- on everything from government salaries, contractor payments, to longstanding social security and health care obligations. If more money is coming in than originally projected, Washington might not have to make those cuts right away. But a huge debt hurdle looms on August 15: the Treasury has to make a $30 billion payment of interest on long-term bonds. No one has suggested that the pace of receipts will enable it to finesse that without other spending cuts. \"You can still go beyond August 2 -- I think that\'s put out there as a D-Day, this deadline day, but it\'s not really,\" Jeff Cleveland of investment bank Payden & Rygel told NPR radio\'s Marketplace program Tuesday. \"It\'s not until you get to that August 15 point where you have make that payment. That\'s a large chunk of money.\"  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us has room to move on debt deadline Arab Today, arab today us has room to move on debt deadline

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:03 2017 Thursday ,23 March

Spider Venom May Offer Hope to Stroke Victims

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday