WASHINGTON -- If Congress fails to hike the nation's borrowing limit by Aug. 2, it will be "lights out" on the government and the economy, Treasury Se...
Even though the possibility of a federal government default is an issue with potentially catastrophic consequences, GOP leaders in the House and the Senate seem to be playing politics with the debt ceiling.
The United States will hit the legal limit on its ability to borrow no later than May 16, Treasury Secretary Timothy Geithner said on Monday, rampin...