A potential default on U.S. treasury bonds isn't as unprecedented as politicians would have you think. In 1979, the U.S. failed to make timely payments to its bondholders — and the results weren't pretty. Robert Siegel speaks with Ball State University finance professor Terry Zivney, who co-authored a journal article called "The Day the United States Defaulted on Treasury Bills," about the results of that last default.
Credit Photo by Jody Hope Strogoff / The Colorado Statesman
We’re still 16 months way from the 2012 election. But this is the prime time for challengers to begin their campaigns - which is exactly what three Democrats have done recently for state congressional seats.
The U.S. is withholding $800 million in military assistance to Pakistan. NPR's Jackie Northam and host Guy Raz discuss the latest example of the strain between the two allies in the wake of Osama bin Laden's killing.