D.C. Begins Work On Contingency Plans For Dealing With Federal Default | WAMU 88.5 - American University Radio

WAMU 88.5 : News

Filed Under:

D.C. Begins Work On Contingency Plans For Dealing With Federal Default

Play associated audio

D.C. Council Chairman Kwame Brown is asking the full council to come back from its summer recess so they can meet Monday with the Mayor and the Chief Financial Officer and go over the city's options for dealing with a default.

The District's CFO has warned that if federal lawmakers fail to raise the debt ceiling, the city could see an immediate delay or loss of Medicaid reimbursements and other federal funds.

And even if congress raises the debt ceiling but the federal government's credit rating is downgraded, the District's borrowing costs could increase while at the same time, local revenues could drop. Real estate transactions, for example, could be slowed by higher interest rates.

In short, the District would have a cash-flow problem, and the CFO says the city needs to brace for the worst, and draw up a plan that rations payments.

NPR

'Language Of Food' Reveals Mysteries Of Menu Words And Ketchup

Linguist Dan Jurafsky uncovers the fishy origins of ketchup and how it forces us to rethink global history. He also teaches us how to read a menu to figure out how much a restaurant may charge.
NPR

'Language Of Food' Reveals Mysteries Of Menu Words And Ketchup

Linguist Dan Jurafsky uncovers the fishy origins of ketchup and how it forces us to rethink global history. He also teaches us how to read a menu to figure out how much a restaurant may charge.
NPR

Obama To Announce Large Ramp Up Of Ebola Fight

The U.S. military plans to establish a medical base in Liberia to help stop the Ebola epidemic. It will build 1,700 new treatment beds and train up to 500 health care workers every week.
NPR

Minecraft's Business Model: A Video Game That Leaves You Alone

Microsoft is buying the company that created the video game Minecraft, which has a loyal following in part because of the freedom it allows players — including freedom from pressure to buy add-ons.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.