House Speaker Paul Ryan is assuring investors that Congress will meet a new deadline to increase the government's borrowing authority and avert an economy-quaking default on U.S. obligations.
Ryan said Thursday that "the debt ceiling issue will get resolved." He spoke a day after Treasury Secretary Steven Mnuchin warned lawmakers that Congress needs to vote to increase the almost $20 trillion borrowing cap before taking its annual August vacation.
It had been previously assumed that lawmakers wouldn't have to vote on the debt limit until sometime this fall.
"The timing is what I think is the newsworthy thing here," Ryan said. "Receipts...