PORTLAND, Ore. (AP) — The state of Oregon has the cash to weather a showdown on the nation’s debt limit after a potential August federal-fund cutoff, but the looming deadline has some social service providers worried.
The Oregon State Treasury says it will free up more cash to cover the shortfall from a short-term fund that pumps government receipts into investments.
Tapping the fund will cost the state some investment income.
But if the deadline should pass without an increase in the nation’s borrowing authority, the pain won’t be spread equally — the state must wait to see which programs get funding priority.
At Hollywood Senior Center in Portland, director Amber Kern-Johnson says center residents expect a compromise and can’t imagine losing their social-assistance checks.
