July 22nd is the real deadline according to the Obama Administration

I agree that this situation needs to be fixed sooner rather than later. It makes no sense to keep this going all summer. I am glad that the WH is finally turning up the heat on the Republicans to work together to something done.

The Treasury Department’s drop-dead date to raise the debt ceiling is still August 2, it was announced Friday, though Democratic officials say the White House believes a deal with congressional Republicans must come by July 22.

In a statement, Assistant Secretary for Financial Markets Mary Miller said Treasury Secretary Timothy Geithner “continues to urge Congress to avoid the catastrophic economic and market consequences of a default crisis by raising the statutory debt limit in a timely manner.”

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