Former US Senator paints debt-ceiling pictures

“Investors can relax,” says Evan Bayh, former US Senator for Indiana, at a luncheon sponsored by the Asia Society. He says the United States Congress will vote to raise the federal debt ceiling in the first week of August, but the process he describes is likely to frighten investors, even if the final outcome is the right one. The US government hit its debt ceiling of over $14 trillion in May, prompting US Treasury secretary Tim Geithner to suspend investments in federal retiremen…