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From CNBC:
News Headlines
For those who are interested, the Secretary's letter can be found at: http://www.treasury.gov/initiatives/Documents/DLDeMint062811.pdf
Also, in its concluding statement from its annual Article IV consultation with the U.S., the IMF declared, "the federal debt ceiling should be raised expeditiously to avoid a severe shock to the economy and world financial markets." In terms of downside risks facing the U.S., the IMF also noted:
Unfavorable fiscal outcomes. These could take the form of a sudden increase in interest rates and/or sovereign downgrade if an agreement on consolidation does not materialize or the debt ceiling is not raised soon enough. These risks would also have significant global repercussions, given the central role of U.S. Treasury bonds in world financial markets.
News Headlines
For those who are interested, the Secretary's letter can be found at: http://www.treasury.gov/initiatives/Documents/DLDeMint062811.pdf
Also, in its concluding statement from its annual Article IV consultation with the U.S., the IMF declared, "the federal debt ceiling should be raised expeditiously to avoid a severe shock to the economy and world financial markets." In terms of downside risks facing the U.S., the IMF also noted:
Unfavorable fiscal outcomes. These could take the form of a sudden increase in interest rates and/or sovereign downgrade if an agreement on consolidation does not materialize or the debt ceiling is not raised soon enough. These risks would also have significant global repercussions, given the central role of U.S. Treasury bonds in world financial markets.