Maryland Comptroller Pens letter to House Speaker

Maryland- An issue on the mind of many Americans is the debt ceiling in the country.

That ceiling of $31.4 trillion was reached last week on January 19th, which sparked Maryland Comptroller Brooker Lierman, in collaboration with other state fiscal officials, to write a letter to Speaker of the House Kevin McCarthy urging congress to act.

Lierman tells us that if a resolution is not found it could have dire impacts on Americans.

“It could have a huge, catastrophic impact on our economy and on families, on small businesses. Failure to act will lead to higher interest rates, every single interest rate will go up.” Says Lierman.

The letter condemns the lack of action by officials in Washington, and urges the House Speaker to rally his colleagues and honor their constitutional duties and find a resolution in order to protect the state of the American economy.

Lierman further went on to state that impacts would be ongoing, lingering into the future: “It would be incredibly damaging to the states economy and the national economy. Not just in the short term, but in the long term as well.”