Too early for PA to know the potential effect of no debt ceiling deal
What happens in Pennsylvania if there’s no debt ceiling agreement by next week?
Mark Price, an economist with the left-leaning Keystone Research Center, said there’s no doubt there will be problems if the country goes much past the August 2nd deadline without raising the debt roof.
“National parks will be closed. People needing access to Social Security administration – those offices will likely be closed,” said Price. “If we default, that could raise the cost of federal borrowing and that will have effect on people who want to borrow for homes or cars for the future.”
The question, for Price, is only how soon after August 2 those things will happen. But, he added, it’s almost too “crazy” to think about – imagine the political fallout if millions of Americans don’t get their Social Security checks.
Matt Broulliette, with the Commonwealth Foundation, said this is all still speculation.
Whether the government defaults on its debt, or whether its credit is downgraded, Broulliette said the warnings amount to “a lot of scare tactics.”
“I don’t think it will be as dire and as disastrous as some are suggesting,” said Broulliette.
He said the disaster-forecasting is intended to “increase the amount of money that the politicians can spend.”
The crack team (of one) at State House Sound Bites checked in with the Gettsyburg National Military Park – just to see if there’s been any watercooler talk about closing if there’s no debt limit agreement.
Sure enough, a spokeswoman confirmed her office had received an official state this week – for those interested, the folks at Gettysburg “remain confident” the debt ceiling debacle will be dealt with.
But will you be at work on August 3rd, asked this crack team (of one).
The spokeswoman paused. “No comment,” she said.