Debt Ceiling Deadline Looms

from National Public Radio

President Obama has stated it clearly, and his Treasury Department backs him up: The federal government will run short of money to pay its bills one week from Tuesday. Some financial firms say there could be more time. Barclays, UBS and Wells Fargo say extra tax revenues coming in could give the government a few more days. But all acknowledge time is short — with the House and Senate now preparing to vote on competing plans to raise the federal debt ceiling.

Broadcast Dates

• Morning Edition, July 26, 2011