Bennet warns of local impacts of debt limit deadline | SummitDaily.com
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Bennet warns of local impacts of debt limit deadline

Daily News staff report

Colorado US Sen. Michael Bennet warned that Congress’s failure to extend the nation’s debt limit could have far reaching consequences down to the local level, potentially impacting the approximately $81,000 in federal expenditures received in Summit County, according to a statement from the senator’s office this week.

“Failing to extend the debt limit is not like a family cutting up their credit card to reduce spending,” Bennet stated in the release. “It is more like a family deciding not to pay its mortgage, utility bill or other debt that it already incurred. In this case, the obligations are promises Congress has made. If the debt limit is not addressed it will have real and painful effects for Colorado families.”

In 2009, the federal government paid out approximately $81,000 to Summit County in federal retirement and disability payments, Medicare, grants to state and local governments and the purchase of goods and services, expenditures that might be disrupted if the debt ceiling is not raised, Bennet’s statement said.


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