Congress will default this time as this will determine if the right can make Obama a lame duck president in his last two years. Obama believe a default will be good for him to gain control of congress for the left for the next two years . Who will be right? We will find out when the defult occures in October. Hope you longs are not in when the treasury secretry announce it. Mark my words (especially you mike) a defult will occur as politically it has a potentially huge up side to both sides of the isle. Politics is as important to follow as business when investing.