The White House, as part of its effort to pressure Congress to adopt a compromise on its debt ceiling, this afternoon released a list of public officials urging congressional action including several from from North Carolina.
“The logjam in Washington has taken us too close to the brink,” said Democratic Gov. Bev Perdue on the White House blog. “Our federal officials need to come together now to reach a balanced compromise that will avert a rating downgrade or payment default before it's too late.”
In a statement signed by eight mayors of major North Carolina cities including Bill Bell of Durham and Anthony Foxx of Charlotte, they wrote, “failure to successfully moderate the discussion and bring the parties together to resolve the debt ceiling crisis is unacceptable. Our cities cannot withstand a deeper recession. We cannot weather instability in the municipal bond market which will further slow infrastructure investments and job creation.”
State Treasurer Janet Cowell, a Democrat, said “it is critical that the president and Congress act now by developing a credible, long-term plan to reduce the budget deficit. A downgrade could have a harmful effect on the North Carolina Pension Fund and North Carolina investors who invest in Treasury bonds.”