Treasury Invokes ‘Extraordinary Measures’ as Congress Misses Debt Ceiling Deadline

• Heresy Financial
  Congress officially went on recess without addressing the expiring debt ceiling suspension. As of August 1, the Treasury has been forced into engaging in “extraordinary measures” in order to continue funding federal expenses despite the income from borrowing disappearing. Depending on how long this lasts until Congress agrees to a solution, the consequences may soon become severe.

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