As the federal debt limit brings a disastrous government default ever closer, Congress will turn to the Treasury Department for the one thing it cannot deliver: a precise deadline.
House lawmakers this week are scheduled to vote on an increase in the debt ceiling, with no likelihood of passage in the 50-50 Senate assuming Republicans vote en masse against it. That leaves the Treasury on track to run out of cash, as Secretary
Given the massive economic and financial disruption that a U.S. payments default would cause, a drop-dead date for the Treasury ...