Bennet warns of local impacts of debt limit deadline |

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.

Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.

For tax deductible donations, click here.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User