Despite the more promising tone of the recent discussions on Capitol Hill, there remains a risk that the debt ceiling will not be raised before Thursday. But a detailed look at the Treasury’s spending schedule shows that it should be able to meet all its obligations for another two weeks, not least because it still has $36bn of cash in reserve. Under those circumstances, it would not be a disaster if a deal isn’t agreed to raise the debt ceiling until a few days after Thursday 17th October.
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