By Alexandra Oliveira - 02/04/14 10:58 AM EST
Budget expert Stan Collender predicts Congress will raise the debt ceiling by the end of the month because they don’t want to wage a war that could cause the U.S. to default on its payments.
Collender, the executive vice president of Qorvis MSLGROUP, said because the GOP took a beating during October's government shutdown, Republicans will be more reluctant to wage a war that could cause the U.S. to default.
The $16.7-trillion debt limit was extended until this Friday after Congress struck a deal to reopen the government.
The Treasury will be able to use “extraordinary measures” to pay the nation’s bills for a few weeks, but has said Congress must take action by the end of the month or is coffers will run dry.