3Qs: As debt-limit deadline nears, more economic pain looms
Treasury Secretary Timothy Geitner says Congress has until August 2nd to approve an increase in the federal debt limit — enabling the Treasury to borrow more money — or the U.S. government will not be able to meet all of its financial obligations. Here, Northeastern finance and economics instructor Richard Goettle discusses what could happen to the economy if Congress and the White House fail to find common ground.
