State Budget Officials Plan For Possibility Of Federal Default

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(Host) Vermont budget officials are concerned about the ongoing debate in Washington over the federal debt ceiling.

That’s because they worry Washington will go into default and federal funds will stop flowing to the states.

Vermont Finance Commissioner Jim Reardon says he’s instructing managers throughout state government to draw down all federal money due to the state before the end of the month.

(Reardon) "Even though our cash flows are good at this point in time, I don’t want to leave any earned federal money on the table in expectation that the federal government will resolve this issue."

(Host) Reardon explained his plan to a meeting of the Legislature’s Joint Fiscal Committee on Thursday.

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