Yesterday, I mentioned a WSJ article on how a default would affect us personally. Today, the WSJ talks about how companies are bracing for default:
In a recent survey by the Association of Financial Professionals, which represents treasury and finance executives, half of the 305 respondents said failure to reach an agreement by the Aug. 2 deadline would have a detrimental impact on their access to capital and short-term investment strategies.
Half of the respondents planned to take defensive actions, such as a freeze on hiring, reducing capital spending and drawing on credit lines to build cash, the AFP said.
Buckle your seatbelts…