‘Fiscal brinkmanship’ is how Maryland Reporter describes the give-no-quarter budgetary negotiations going on in Congress these days. And that sounds about right. And while we wait to see which side is going to blink first, Maryland is likely to see its AAA credit rating downgraded by Moody’s Analytics.
With a potential federal sequester looming, Maryland would feel the brunt of “deep cuts” in spending, given the state’s high percentage of federal workers and dependence on federal contracts. And despite the protests of our state treasure, Moody’s has an awful bad feeling about Maryland’s financial future.
Of course, it’s still possible that this danger will be averted. We just need Congress to come together on some kind of solution. That’s still possible, isn’t it?