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Debt Default Contingency Plans

People visit the closed World War II Memorial on the National Mall in Washington, despite signs stating that the national parks are closed due to the federal shutdown.

Debt Default Contingency Plans

October 14, 2013


Warren Buffett likens it to a nuclear attack. Economists warn that government spending on programs like Social Security would plunge. The Treasury says the economy would slide into a recession worse than the last.

Yet you wouldn't know that a U.S. debt default could amount to a nightmare from the way many companies and investors are preparing for it: They aren't. The assumption seems to be that in the end, Washington will find a way to avert a default.


Reporting by the Associated Press.