Boom! Ready or not here it comes!
Paul Ryan: We will pass a debt limit increase in time 1:34 PM ET Thu, 24 Aug 2017 | 01:37
Ahead of a looming intraparty fight, House Speaker Paul Ryan on Thursday insisted the United States will raise the debt ceiling to avoid a default.
“We will pay our debts and we will make the debt limit,” the Wisconsin Republican told CNBC from a Boeing factory in Washington state, where he was promoting tax reform.
“I’m really not worried about getting this done because I know we will get this done and we will pass the increase before we hit the debt limit,” he added.
The U.S. government needs to increase its borrowing limit before the end of September or risk defaulting on its debt. (source)
“Failure to raise the debt limit would likely be more catastrophic to the economy than the 2008 failure of Lehman Brothers and would erase many of the gains of the subsequent recovery,” said Beth Ann Bovino, chief economist at S&P Global Ratings. – source