Deficit Deadlines Ahead

2014 Budget Deadline:

By Oct. 1, Congress must pass either a federal budget or a continuing resolution to fund the government.  Even in the past few years without budgets,

Congress has generally agreed to resolutions to keep the government operating. Despite undoubtedly heated commentary, we expect that to be the case again.  Debt Ceiling Deadline: Congress will have to raise the debt ceiling again, probably inOctober 2013. Congress has raised the debt ceiling 79 times since 1950, and with ongoing federal deficits, it will have to continue to do so. In our view, these deadlines shouldn’t matter to investors, but Washington politics could attrac market attention