Sen. Kevin Cramer discusses how raised debt ceiling will impact North Dakota industries
As Congress works to pass a deal that would raise the debt ceiling before September, Sen. Kevin Cramer (R-ND) describes how North Dakota will be impacted.
“The debt ceiling is going to be hit sooner than they thought,” Cramer said. “By that I mean, the government runs out of money to pay the bills. And that’s going to happen probably mid-September.”
Congress is working on passing a proposal to raise the debt ceiling before it’s hit in the fall. Ideally, Cramer says, the proposal would be passed before Congress leaves for a six week recess in August. The agricultural, energy and retail sectors of North Dakota would all be impacted if the debt ceiling fails to be raised as industries that rely on government funding, Cramer explained.
“Those days where you’re not getting the dollar are lost forever, and it does disrupt the flow,” Cramer said. “It’s also disheartening. It has a societal effect.”
Congress is attempting to pass a new budget deal alongside the debt ceiling bill as well. Both will need to be passed before the deadline in September to avoid a potential government shutdown. Cramer says even if the budget is not ready at that time, the debt ceiling increase could also pass separately.
“This town works best on deadlines.” He said.
While Cramer says he can’t say the proposals will definitely pass by the deadline, he’s confident that Congress is working hard to avoid a government shutdown like last winter.