Jonathan Alter: Fail-Safe Plan Could Stop U.S. Default Disaster

July 1st, 2011

Bloomberg
July 1, 2011
Jonathan Alter

As President Barack Obama and congressional Republicans trade shots on the budget, it’s getting harder to see how they’ll pull back from the brink and avoid a cataclysmic default.

With only a month to go before the Aug. 2 deadline for raising the U.S. debt limit, this feels like a financial version of the 1964 Cold War thriller “Fail-Safe” — a helpless stumble toward disaster.

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