Maryland, South Carolina, New Mexico, Tennessee and Virginia may be downgraded by Moody’s due to their dependence on federal money, should the federal debt ceiling not be raised.
Politics in the Zeros
"A republic, if you can keep it." Defeat MAGA
Politics in the Zeros
"A republic, if you can keep it." Defeat MAGA
Matthew Yglesias had a piece yesterday about which states are most dependent on federal money: http://thinkprogress.org/yglesias/2011/07/18/271624/which-state-governments-lose-if-the-government-cant-pay-its-bills/
And today brings an interactive map of what the cost would be to individual states if the debt ceiling remains frozen in August and September (again via Matthew Yglesias)
http://www.americanprogress.org/issues/2011/07/debt_ceiling_states.html
“The map…shows that no state would be spared by these cuts. Each stands to lose hundreds of millions of dollars in federal funding if the debt limit isn’t increased regardless of how Treasury decides to prioritize payments.”
State governments get 25% – 50% of their revenue from the federal government. Among the programs that federal dollars fund are emergency fire services for rural communities. Perhaps fortunately, above average fire danger appears to be confined mainly to Texas for August through October. http://www.predictiveservices.nifc.gov/outlooks/monthly_seasonal_outlook.pdf