Government 
16
comments

Your take: Are you worried about US default?

Have you learned to stop worrying and love default?It’s now less than a week until the federal government is projected to run out of accounting tricks and come up hard against the debt limit, the maximum amount the U.S. is allowed to borrow under existing law.

After that, what happens next is hard to predict. The government might be able to prioritize payments to Treasury investors for a while by stiffing other groups owed money, such as active military personnel and Medicare and Social Security recipients.

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 Investing 
10
comments

How a debt ceiling crisis and U.S. default would annihilate your 401(k)

If you own stocks and the U.S. breaches the debt ceiling, you're gonna have a bad timeIf you’ve been tuning out the dire warnings coming from economists and politicians about a possible debt ceiling crisis, I can’t really blame you. Politicians in particular spend a lot of time stirring up public fear about supposedly imminent but ultimately nonexistent crises in order to push their policy agenda (“the domino theory,” “death panels,” etc.).

But I believe a failure to raise the debt ceiling, and the default of Treasury debt it would trigger, would have real and seriously crappy consequences, particularly for all the people invested in the stock market through their retirement plans.


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