From the sounds of things this was just round one of what will continue to be a contentious issue. Our federal lobbying partners, Waterman and Associates, have created a straightforward analysis on debt ceiling issue. (See attached.)
The White House has also put out a Myths and Facts document with some useful information. It is still unclear how the resolution of this immediate crisis will fully impact counties. CSAC will keep you posted as we decipher, and watch with a dreaded sense of deja vu, the federal government budget process head down the same path as California.