401(k)s: Failure to Raise Debt Ceiling Would Mean What?

If Congress fails to raise the U.S. debt ceiling, what will be the consequences for U.S. savers and investors? Two economists at the Center for American Progress, a progressive advocacy group, believe the consequences could be dire. The stock market, they say, could drop by 20 percent to 30 percent. And 401(k)s, which in the past two years have rebounded from losses suffered earlier in the recession, could see those gains largely erased. Gloria Moss, 65, an educator in Florida, lost about...Full Story
Commenting on this article is closed.