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

Credibility Concerns Overshadow Release Of Gay Talese's New Book

NPR's Kelly McEvers speaks with Paul Farhi of the Washington Post about Gay Talese's new book, The Voyeur's Hotel. The credibility of the book, which follows a self-proclaimed sex researcher who bought a hotel to spy on his guests through ventilator windows, has been called into question after Farhi uncovered problems with Talese's story.
NPR

Amid Craft Brewery Boom, Some Worry About A Bubble — But Most Just Fear Foam

Fueled by customers' unquenchable thirst for the next great flavor note, the craft beer industry has exploded like a poorly fermented bottle of home brew.
NPR

White House Documents Number Of Civilians Killed In U.S. Drone Strikes

The Obama administration issued a long awaited report Friday, documenting the number on civilians who have been accidentally killed by U.S. drone strikes. Human rights activists welcome the administration's newfound transparency, though some question whether the report goes far enough.
NPR

Tesla 'Autopilot' Crash Raises Concerns About Self-Driving Cars

The National Highway Traffic Safety Administration is investigating a fatal crash involving a Tesla car using the "autopilot" feature. NPR's Robert Siegel talks to Alex Davies of Wired about the crash and what it means for self-driving car technology.

Leave a Comment

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