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

Mia Wasikowska On The Sounds Of Camels And The Lure Of Travel

Melissa Block talks with actress Mia Wasikowska about her new film, Tracks, which follows a woman on a long journey with only camels and a dog for company.
NPR

Giving Chickens Bacteria ... To Keep Them Antibiotic Free

What does it take to get chickens off antibiotics? According to Perdue Farms, an added dose of the "good bacteria" known as probiotics can help crowd out the harmful microbes that make a chicken sick.
NPR

Hillary Exhilaration Helps Energize Generation Z

Many young people are excited about the 2016 presidential election — and the chance to make history.
NPR

Some Tech Firms Capitalize On Privacy

Steve Henn of NPR's Planet Money team profiles some entrepreneurs who are working on a novel business model to start up a new tech company. It's pay for service. What a concept.

Leave a Comment

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