Dave Rice 5:30 p.m., March 11
Impasse on Debt Ceiling Could Cost San Diego $15 Billion
Congress this month will debate the raising of the U.S. debt ceiling. If there is no agreement, the consequences for American finances could be devastating. But local effects could be deleterious, too. W. Erik Bruvold of the National University System Institute for Policy Research says that if there is a prolonged impasse into late summer, $14 billion to $15 billion of federal money that flows to San Diego could be at risk. In 2009, $36 billion came into the San Diego metro area from federal programs -- 33% in Social Security, Medicare and Medicaid; 42% on defense and veterans affairs; 5% on payments to civilian and military retirees and 20% from more than 300 other federal programs. San Diego is one of the major recipients of military funding.