Ed note: August 2nd is nearly here and Congress remains locked in a stalemate over increasing the debt limit and avoiding a potentially crushing default.
Links and pictures presented with minimal commentary.
From the FRED paper entitled “The Federal Debt: What’s the Source of the Increase in Spending?”:
Intrade prices are implying a 70% chance of a deal being done by August 31st, and only a 21% chance by July 31st:
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