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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.

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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.

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Comments
7

Indeed Don, far too many things that will determine our quality of life depend on ending the debt ceiling impasse today.

As we keep learning from you, our politicians are indentured to serve special interests as their highest priority due to the power of money, instead of serving the electorate as their highest priority which is what the Constitution was supposed to produce.

We should have learned from the Great Depression that we must stabilize the economy as our highest priority as soon as possible. But far too many who go to college forget what they learned about history the moment they receive their degree, including far too many professors who fail to practice what they teach.

The budget impasse is just one more warning that we must demand better political and intellectual leaders if we are going to survive beyond this century.

May 4, 2011

Sound words, Anthony. Incidentally, it now may be August before the debt ceiling issue comes to a head. Best, Don Bauder

May 4, 2011

Yes Don, we are most truly in an era when blind partisanship and selfish special interests have put closing the deficit gap beyond reach.

Congress, as well as state legislatures and local governments across America have failed the test of Democracy and our newest generations shall suffer the consequences of their/our failures.

May 6, 2011

Trouble is, most politicians are motivated by one thing: getting reelected. Voters want their manna NOW. Future generations get saddled with the debt. There is very little long term thinking these days. Best, Don Bauder

May 6, 2011

You nailed it Don, short-term thinking is the Achilles Heel of the human race and our brains just haven't evolved far enough beyond basic jungle survival to deal seriously with the long-term future yet.

Our politicians certainly prove that, but then we keep allowing them to get away with it so the political party leaders rule us in favor of whichever special interests pay them the most, and We The People haven't been special interests for far too long.

Our Founding Fathers were as far as politicians ever evolved in our Democracy, and since then politicians have reverted to acting like their chimpanzee ancestors.

May 7, 2011

Thanks Railsplitter.

What Washington and America need more than anything else are extraordinary leaders.

We learned from some of the world's greatest leaders, like Cromwell, Washington, Churchill, Roosevelt and Eisenhower that having military leadership experience is extremely important when it comes to saving a nation from calamities.

Military leadership experience isn't the only way, but we don't appear to have any Founding Father class leaders like Jefferson and Franklin in Washington today either.

We The People must find a Constitutional way to return power to the people.

May 10, 2011

P.S. Maybe we should temporarily resort to the Oliver Cromwell method of legislative attention getting, disband Congress for awhile until politicians want to do more than just stay in office.

Of course Obama’s job title would have to change to President Protector until politicians are dedicated once again to serving We The People instead being indentured servants to special interests.

May 9, 2011

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