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Politics & Government

Video: Local Leaders Sound Off on Debt Ceiling Crisis

Patch speaks to Nassau County politicians and the business community to get their viewpoint on this hot-button issue.

The federal government hit its so-called debt ceiling on May 16 and if the president and Congress don't reach an agreement to raise the ceiling by Aug. 2, giving the government the ability to borrow more money, Uncle Sam will no longer be able to pay its bills in full.

Mike Deery, the director of communications for the Town of Hempstead said it is difficult to know the overall impact, as it is highly speculative.

“Maybe some planning and revitalization projects could be impacted,” he said. If federal funding were to dry up, “those programs and services could see a reduction or decrease in funding.”

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While Deery said Hempstead Town residents who were federal employees might be the most impacted, he added he hopes “the issue is resolved at the federal level.”

Chuck Cutolo, director of Government Affairs at Nassau Community College said it is too early to estimate if and how such determinations on the federal level will affect the operations at the college, although he still expects the limit ceiling to be increased by Aug. 2.

Find out what's happening in Wantagh-Seafordwith free, real-time updates from Patch.

“However, if it is not raised by that date, then there will be an issue of which of its obligations the federal government will pay based on the 'cash it has on hand,' Cutolo added.

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