Gov Urges Raising of Debt Ceiling
Governor Fallin is urging the nation’s leaders to come together to raise the debt ceiling.
Governor Fallin says while Washington, DC has a spending problem, the federal government cannot default on its debt.
“We all are familiar with how not addressing the debt ceiling could affect our borrowing capacity not only as a state but certainly as a nation would affect our interest rates could affect our bond ratings.”
Fallin says not increasing the debt ceiling could stop the flow of nearly $24 billion in federal money the state gets every year.
She says Oklahoma’s economy is growing, but that could change without a decision to raise the debt ceiling.