Mayor: US Shutdown To Cost LA $560M
LOS ANGELES (CBS) — As lawmakers on Capitol Hill scramble to avert a shutdown of the federal government, the mayor of Los Angeles warned on Thursday that the local financial fallout could be substantial.
KNX 1070′s Ed Mertz reports Mayor Antonio Villaraigosa blames House Republicans for the looming crisis.
“I can tell you that HR 1 alone —which is the House leadership proposal — would have a $560 million impact on the city of Los Angeles,” said Villaraigosa.
The mayor did not provide details on how the budget moving through the House would specifically impact the city, saying only that it may not have “an immediate impact” but would ultimately hit the pocketbooks of all Angelenos.
Villaraigosa also blasted Congress for failing to reach a deal on the federal budget.
California Republican Congressman Tom McCintock, a member of the House Budget Committee, tells KNX 1070 that while a shutdown would be “a parade of horrors”, it may be the next best solution to heading off an even bigger crisis down the road.
“Within just a few years, our nation will face a sovereign debt crisis and the potential financial collapse of the United States government — that’s a permanent shutdown,” said McClintock.
House Republicans pushed a plan Thursday that would hold off for another week the threat of a government shutdown while Congress and the Obama administration struggle to reach a budget deal.
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