Unnamed White House and U.S. Treasury sources told MoneyNews.com that options to handle the government’s debts in the event no debt ceiling deal is reached are being explored, despite official protestations to the contrary.
Mary Miller, Assistant Secretary for Financial Markets, is in charge of paying the government’s bills, and on June 21 she repeated the party line in London to bankers holding substantial American debt that there is no "Plan B," assuring them that the debt limit would be raised before August 2. Official Treasury spokeswoman Colleen Murray expressed practically the same thing:
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Photo of Timothy Geithner: AP Images
