WAMU 88.5 : News

Maryland's and Virginia's Bond Ratings Could Be Cut This Fall

Play associated audio
Senate GOP leaders addressing press corps after voting to raise the debt ceiling.
Matt Laslo
Senate GOP leaders addressing press corps after voting to raise the debt ceiling.

The credit ratings of Virginia and Maryland could be tied to the congressional panel set up to reduce the deficit.

With so many federal workers throughout the region, the economies of both Virginia and Maryland are closely tied to the federal government. The ratings agency Standard & Poors decided this week not to downgrade the two states' credit ratings but that could change this fall.

John Sugden, a director at S&P, says analysts will now be monitoring the congressional panel charged with finding $1.5 trillion in either budget cuts or revenue increases.

"We will be analyzing what the impact of these reductions will be on each state, and in some cases the states might be affected differently than others," Sugden says. "It really depends on what the cuts are and which parts of the federal government are reduced and how that is implemented."

Sugden says the credit rating agency will be looking to see if the panel recommends deep cuts to programs such as Medicaid, which provide funding for programs directly to the states.

He adds that how state governments react to the cuts will also factor in to whether they maintain their AAA credit ratings.

NPR

Aviator Beryl Markham Soars Again In 'Paris Wife' Author's New Book

"It is my fate to illuminate the lives of these one-of-a-kind notable women that have been somehow forgotten by history," says Paula McClain. She shines her spotlight on Markham in Circling the Sun.
NPR

At The Purple Pie Place, Where The Crusts Are Just Sweet Enough

Bobkat's Purple Pie Place is a fixture in Custer, S.D. From chicken pot pie to strawberry rhubarb, Trevor Yehlie and his family have been baking and serving pies at the local favorite since 2009.
NPR

SuperPACs Report Their Funds — And The Numbers Are Staggering

SuperPACs released their latest funding numbers Friday, and already it's clear that the committees' roles in 2016 will be gargantuan.
NPR

Despite Host Controversy, Amazon Takes A Chance On 'Top Gear'

The trio that made Top Gear the world's biggest car show will return to the small screen in a new show for Amazon Prime. The BBC canned one of its hosts last year after a fight with a producer.

Leave a Comment

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