9/22, 9:19 PM (Source: TeleTrader)
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WH working on contingency plan if debt limit not raised

White House Press Secretary Jen Psaki stated on Wednesday that the Office of Management and Budget is considering contingency plans in case the United States Congress does not pass the necessary legislation to raise the federal debt ceiling.

Psaki noted, however, that the focus currently is preventing such events from happening and avoiding the shutdown of the government.

"The House passed the CR [continuing resolution] including a raising debt limit attached, the Senate could pass that today and we could all rest easy the government is not going to shut down. The American people could rest easy. We'll see what happens," Psaki said.

Breaking the News / LH