Today, the National Association of Counties (NACo) released a new legislative presentation which provides a quick guide to understanding the debt limit debate and the significance to U.S. counties. The presentation also examines areas of risk and opportunity for counties in the ongoing negotiations.
Click here to view the presentation.
The presentation highlights:
- Why Counties Should Care about the Debt Limit Debate
- What is the Debt Limit
- Why is there a Debt Limit
- Extraordinary Measures to Prevent Default
- Context for Federal Debt and Deficit Discussion
- Ongoing Fiscal Debate and the First Fiscal Cliff Deal
- County Risks and Opportunities
Just this week, lawmakers in both chambers and the White House signaled support for a short-term suspension of the nation’s borrowing limit that would remove the threat of a government default for at least four months. However, this only delays decision making on important fiscal issues. As these negotiations continue, counties continue to be concerned about sequestration, potential cuts to Medicaid and cost shifts to counties, and the potential elimination or reductions to tax-exempt municipal bonds.
For the whole announcement, click here.