Wed October 9, 2013
Treasury Officials Mull Credit Default Solutions
Originally published on Wed October 9, 2013 3:44 am
The Treasury Department says it will begin running out of money to pay its bills by Oct. 17, if the partial government shutdown isn't over by then. That prospect worries the financial markets. Treasury debt plays a fundamental role in the global economy, and economists agree that a debt default would have dire consequences. But some Republicans insist that a default doesn't have to happen.