The Economy

Jan 9, 2013 5:00 PM by Lauren Molenburg

Governors warn Congress over debt limit

WASHINGTON (AP) - Governors are warning Congress that lingering uncertainty over raising the nation's debt limit could hinder their state budgets and job growth.

Delaware Gov. Jack Markell and Oklahoma Gov. Mary Fallin are outlining state agendas in 2013 as part of the National Governors Association.

Markell says the postponing of spending cuts under the "fiscal cliff" deal and a lack of action on raising the debt limit has led to uncertainty for businesses just as states are rebounding from the recession. The Delaware Democrat says if the debt limit isn't raised soon, there will be disruptions in federal spending and capital markets that could hurt states.

Fallin, a Republican, says deficit reduction shouldn't be accomplished by simply shifting costs to states. She says states should be treated as "partners, not underlings."

(Copyright 2013 The Associated Press. All rights reserved.)

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