With less than a week to go before the deadline to raise the federal debt ceiling, Pennsylvanians are considering the repercussions of waking up on Aug.2 without a deal in Washington.
Mark Price, an economist with the left-leaning Keystone Research Center, said there’s no doubt there will be negative effects if the debt ceiling isn’t raised.
“National parks will be closed. People needing access to Social Security administration–those offices will likely be closed,” he said. “If we default, that could raise the cost of federal borrowing and that will have an effect on people who want to borrow for homes or cars for the future.”
But the lingering question, Price said, is how long after the deadline passes would those things would happen.
U.S. Sen. Pat Toomey of Pennsylvania isn’t waiting to find out.
He is introducing legislation to that will force the Treasury to put Social Security recipients and active-duty military at the top of the list of those who will get federal payments after Aug. 2.
As for national parks in the state, a spokeswoman for the Gettysburg National Military Park says the park officials “remain confident” that an agreement will be reached.
She had no comment when asked if she would be at work on Aug. 3.