Just like companies like to release bad news on Fridays in order to get less attention, Secretary Geithner on Friday to raise the debt limit from its current $12.1 trillion amount. He already had an inkling of the news that was coming Sunday from the CBO about the deficit reaching $1.3 trillion due to falling tax receipts and increased government spending.
Deficit Hits $1.3 Trillion in July
Previous post: Non-farm Payroll Data Better than Expected
Next post: The Importance of Remaining Independent