Debt Deal Could Be Trouble for FL
July 31, 2011St. Petersburg Times/AP: Debt ceiling fix could mean problems for states
"HARTFORD, Conn. (AP) — The cost of the compromise needed to raise the federal debt ceiling likely will inflict more fiscal pain on states still struggling to recover from the recession and the end of federal stimulus spending. President Barack Obama and Republicans sealed a deal Sunday to avoid the nation's first financial default and raise the debt limit while slashing more than $2 trillion from federal spending over a decade. Obama said that, if enacted, the agreement would mean "the lowest level of domestic spending since Dwight Eisenhower was president" more than half a century ago. While the details of the spending cuts to states remain unclear, lawmakers from both parties have discussed the need to cut or impose caps on so-called discretionary spending over the next decade. That could mean wide-ranging cuts in federal aid to states, affecting everything from the Head Start school readiness program, Meals on Wheels and worker training initiatives to funding for transit agencies and education grants that serve disabled children."
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Page Last Modified: Sat, 19 May 2012 23:05:02 EDT
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