Washington Post Article Highlights Risks to Retirement Plans From Debt-Ceiling Delay

A recent article by the Washington Post, "Debt-ceiling follies put retirement funds at risk" states:

"Because the full faith and credit of the United States has never ever been in as much doubt as it is today, no one knows with certainty what will happen if (more like when at this point) the U.S. breaches the debt ceiling on Oct. 17, as Treasury Secretary Jack Lew predicts. That’s why debt-limit doomsday deniers are nuts to toy with our most valuable asset.

But the predictions are so dire — frozen capital markets, delayed payments and global financial meltdown — only crazy people (see previous sentence) would play with this kind of fire. And if they succeed, more than 60 million American workers with retirement accounts, 80 percent of whom earn less than $100,000 annually, stand to get burned."

To read the entire article, click here.