WASHINGTON, Oct 11 (Reuters) - The White House said onFriday that even if it could pick and choose which bills to payshould it not have enough money to pay them all, a likely legalchallenge to such a plan would still hurt America'screditworthiness.
"Even if it was technically possible, which is still veryunclear, (it) would be economically horrible for tens ofmillions of people," said Gene Sperling, a senior advisor toPresident Barack Obama.
"There would be extraordinary litigation, massive litigationchallenging our system, challenging each payment," he told afinance conference.
"All of this would put a serious cloud over what has alwaysbeen the impeccable credit of the United States government."
- Politics & Government
- The White House
- Gene Sperling