What do the national debt ceiling and a state budget surplus mean for you

By Tess Terrible,

Published February 1, 2023 at 7:30 AM EST

An employee examines a sheet of $5 USD notes with a magnifying glass as it comes off the printing machine at the US Treasury's Bureau of Engraving and Printing in Washington. — An employee examines a sheet of 5 USD notes as it comes off the printing machine at the US Treasury's Bureau of Engraving and Printing in Washington, DC July 20, 2018. - The production of US currency involves numerous and distinctive steps including designing, engraving, siderography, plate making, offset printing, inspection and packaging.

A U.S. debt default could be detrimental to federal employees, those in the military, and beneficiaries of Social Security and other government programs.

Connecticut currently has thelargest budget surplus in the state’s history. How the surplus might be utilized is still unknown.

Today on Where We Live, we talk about what we might see prioritized in this year’s state budget, and how Congress could respond to the debt ceiling.

We’ll also discuss what hitting the debt ceiling could mean for Connecticut residents.

GUESTS:

Dan Haar: Associate Editor and Columnist, Hearst Connecticut Media
Ebong Udoma: Senior Reporter at WSHU
Lisa Hagen: Federal Policy Reporter for Connecticut Public and Connecticut Mirror
Keith Phaneuf: Budget Reporter, Connecticut Mirror

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