CHICAGO (CBS) — State Treasurer Dan Rutherford has outlined his plan to protect Illinois investment dollars in case of a federal default.

As WBBM Newsradio 780’s John Cody reports, at the Thompson Center downtown Friday, Rutherford said if the federal government does indeed default, he will park $7 billion investment dollars in 0 percent federally insured accounts if he has to.

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But Rutherford says he will not expose any Illinois dollars to risk.

Rutherford says in his capacity as the treasurer, he has no official opinion whether the federal government will default.

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But as a citizen of Illinois, he thinks Washington will somehow find a way around and avoid a default.