Likely Outcomes of the Debt Ceiling Drama

Monday, June 27, 2011, 11:02 AM
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I've so far resisted really wading into the whole debt-ceiling charade because I am about as certain as can be that it will simply be lifted once again before any real damage is done to the US Treasury markets.

Sure, there will be a lot of posturing and huffing and puffing, and maybe even some last-minute tensions, but it will all be resolved as it always has been: with a hike in the debt ceiling that will last until after the next election.

But what if this is not true? What if this time an impasse occurs and the debt ceiling is not raised in time? Then what?


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