On Monday night, Gov. Bob McDonnell quietly slipped away from a reception at the Executive Mansion for a little nonprofit, the Virginia Public Access Project, for a meeting at the Patrick Henry Building on a really big one: the U.S. government.
McDonnell, Secretary of Finance Ric Brown, chief of staff Martin Kent and other top aides discussed the impact on Virginia of a default by Washington should Congress and the White House fail to reach a deal on a new debt ceiling by an Aug. 2 deadline.
"Possible impact" being the operative term.
Because he can only guess how and where the inability of the federal government to pay its bills affects Virginia, McDonnell said Tuesday that he is preparing a contingency plan that assumes the worst. But what's the worst? And what are his options for managing it?
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