Could America default on its debts?
It's far from likely that America would stiff her creditors -- but it's no longer altogether unthinkable, writes Robert J. Samuelson. If lenders lose confidence in U.S. bonds, Washington might have to choose between deep spending cuts, major tax increases or defaulting on her outstanding debts -- and simply going broke might be the most attractive of the three options. "The odds may be against ... that fate, but even the remote possibility underlines the precariousness and the novelty of the present situation," Samuelson notes.
Washington Post, The | 11/02
This story published in NYSSA SmartBrief on 11/04/2009
Paterson says state faces "unprecedented" fiscal crisis
Friday, November 13, 2009
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