State controller expresses concern over potential debt limit deal fallout

CARSON CITY, Nev. (KOLO) - Wednesday Nevada State Controller Andy Matthews (R) joined a coalition of 22 state financial officers to express concerns surrounding financial happenings if the U.S. government does not reach a debt ceiling deal by Monday,.

In a written letter to U.S. Treasury Secretary Janet Yellen, the coalition is requesting a plan of action, some sort of affirmation to stakeholders, like Matthews, to ensure that the federal debt will still be prioritized. Matthews’ told KOLO, his main concern is honoring the federal debt and ensuring minimal fallout, e.g. default in payments.

“The reality is that this is not an A or B choice, the secretary has the ability to set priorities, in terms of what obligations we are going to meet, it really does a disservice to have that lack of clarity coming out of the department,” said Matthews.

Matthews says all he is requesting is communication to help him, and other financial officers uphold the job they were appointed to do.

U.S. Sen. Catherine Cortez Masto (D) also weighed in with her concerns, saying “It would be devastating for this country. We’ve never defaulted. We’ve never, ever, ever defaulted... and we shouldn’t. We owe an obligation, really, to pay our debts... debts that are incurred by previous administrations both Republican and Democrat. We’ve always, always paid those debts, and we have to now. So that’s why it’s imperative that we avoid this default, and vote to move forward.”

The deadline to reach a deal is Monday.

.

Copyright 2023 KOLO. All rights reserved.