Obama, Geithner May Regret Threats of Default: Caroline Baum

For Washington's part, the short-term focus on raising the $14.3 trillion debt limit by the Treasury's Aug. 2 deadline has become a diversion from the nation's long-term fiscal problems. The federal government has to rein in the growth of its debt so that it becomes
manageable in relation to the size of the economy.

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http://www.bloomberg.com/news/2011-07-29/obama-geithner-may-regret-threa
ts-of-default-commentary-by-caroline-baum.html