Depending on who you talk to, early August will either be a colossal financial disaster, or just another week of good beach weather.
It comes down to whether you think that the Republicans and Democrats in Congress will reach some sort of deal to raise the national debt limit. If so, the Treasury and the Federal Reserve will be able to continue servicing the outstanding debt and sell new bonds; if not, there will be an impasse, impeding the government from selling new debt.
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