Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt.
said the administration and congressional leaders are continuing toward resolving an impasse over the debt ceiling and he is confident an agreement will be reached that will ensure the U.S. does not default on its obligations."I don't think the market should be concerned," he said. "I think everybody is in agreement that we won't do anything that puts the U.S. government at risk in terms of our issue of defaulting. I think that nobody wants a shutdown in any scenario.
In what he called his "most conservative" scenario, the U.S. could reach its borrowing limit by early September. At that point, the Treasury would lose its ability to make payments on its $22 trillion debt load, a potentially catastrophic event that would ripple through financial and world markets. Both sides have been negotiating on reaching both future spending limits and a longer-term agreement on continuing to allow the government the ability to borrow. There have been some indications that an agreement is near, though CNBC's Ylan Mui reported earlier that the two sides remain significantly apart.
Mnuchin said everybody involved is aware of the risks that the inability to reach a deal would bring. "I've discussed that with the leadership of both the House and the Senate," he said. "That's why I've encouraged them to raise the debt ceiling before they leave."
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