White House and OMB discuss contingency plans if U.S. goes into default

Nobody wants to push America into default, but the ongoing stalemate has some White House officials preparing for Aug. 3, and the worst.

Published Jul. 14 2011 3:10PM EDT

articles/2011/07/14/white-house-and-omb-discuss-contingency-plans-if-u-s-goes-into-default/debt-plan-white-house-stone_lvzyqg — Mandel Ngan, AFP / Getty Images

In front of the cameras, President Obama and his top spokesmen have said they’re confident negotiators will reach a debt-ceiling deal by the Aug. 2 deadline.

Daniel Stone

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White House and OMB discuss contingency plans if U.S. goes into default

Nobody wants to push America into default, but the ongoing stalemate has some White House officials preparing for Aug. 3, and the worst.

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Daniel Stone