miscellaneous | pension | pensions | politics | UC
Could Washington Debt-Ceiling Impasse Adversely Affect UC?
The simple answer is – as someone said – you betcha! Chaotic financial conditions – if such occur – can damage the economy, e.g., 2008, and ultimately cut into state tax revenue. Drops in the value of financial assets hurts the pension fund (and the individual 403b and 457b accounts of UC employees) and other funds UC maintains.
Significant funding flows from the federal government to UC in the form of research contracts, Medicare payments, etc. Will that be interrupted? Who knows? This is one social science experiment we would do well not to undertake.
Bottom Line: There is no good news to be found here.
Yours truly does have a modest editorial suggestion for someone’s consideration:
