Gov. Scott Walker?s top administrator said Monday that Wisconsin is well positioned to continue providing services to residents, even if federal lawmakers fail to increase the U.S. debt ceiling by the Aug. 2 deadline.
….Some have argued that if Congress fails to approve an increase to the $14.3 trillion debt ceiling, the government will be forced to stop paying for services. Federal money makes up almost 30 percent of Wisconsin?s $66 billion budget, much of it earmarked for programs such as Medicaid, UW-Madison research grants and student financial aid.
Quoted: Andrew Reschovsky, UW-Madison professor of public affairs and applied economics