Johanns expresses concern as debt ceiling looms
Nebraska U.S. Senator Mike Johanns is concerned that with all of the attention focused on Syria, not much has been getting done in Washington. Johanns says lawmakers are supposed to finish their work on appropriations bills to fund the federal government for the start of fiscal year 2014 on Oct. 1, 2013. But Congress hasn't made much progress on that or anything else.
Johanns says the government will begin to shut down as of midnight September 30th, and something has to start happening. Johanns says it is simply an issue of time and that these thing take time to get through the process. He says there will come a point when it will become very difficult to get a resolution to these issues before the House, before the Senate, and to the President in a timely way to get things done. Johanns says you begin to run out of days on the calendar and hours in the day to get from point A to point B.
A failure to act on the debt ceiling could lead to a government shutdown when the Treasury runs out of authority to borrow money. Essential services would not necessarily continue, Social Security checks could stop. The federal government would default on its debt payments. Which in turn could lead to problems throughout the global economy.
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