Governors warn Congress over debt limit
WASHINGTON (AP) — Governors warned Congress Wednesday that lingering uncertainty over raising the nation's borrowing capacity could hinder their budgets and their ability to foster job growth in their states.
Delaware Gov. Jack Markell and Oklahoma Gov. Mary Fallin outlined states' agendas in 2013 on behalf of the National Governors Association, urging lawmakers to reach a deal on the debt ceiling, which will reach its limit in about two months.
Markell says the postponing of spending cuts under the fiscal cliff deal and a lack of action on raising the debt limit has led to uncertainty just as states are rebounding from the recession and developing their spending plans for next year. He said if the debt limit isn't increased soon, there will be disruptions in federal spending and capital markets that could hurt states.
"Our economies are tightly linked to the national economy and as a result our states' prosperity depends — the prosperity of our citizens depend in no small measure — on ability of public servants in Washington to come to terms on a path forward," said Markell, who is chairman of the NGA.
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