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State of the States

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  • Description

    FBN's Rich Edson on the National Governor's Association 'State of the States' speech.

  • Duration 1:55
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You.

Okay today governors warned congress that the debt limit to peak hit hurts states' budgets and job growth especially those states already in bad shape.

To rich -- now has the latest -- from.

DC -- well as the annual state of US states addressed the National Governors Association warning about the budget fight here in Washington net debt ceiling debate that you mentioned.

Also automatic spending cuts from the federal government known as the sequestered they were supposed to of already hit the budget this month.

It's been delayed a couple of months because of that budget deal but still plenty of spending there for states federal spending that goes to a number of different.

Programs in the US states also warning against under funded or unfunded mandates -- that the federal government telling states that spend a certain amount of money.

On particular programs and two that the governors basically say look don't hang it on us.

Congress should not impose maintenance -- a -- provisions on states as a condition of receiving federal funding.

In other words if states receive federal cats -- Washington should not demand the same level of service.

Without providing the same level of -- Those states have plenty of work to do themselves this is a report from up pew charitable trust basically say -- the retirement obligation shortfall among US states.

Exceeds well exceeds one trillion dollars one point 38 trillion.

The pension shortfall accounting for 757.

Billion dollars of that and health care.

At 600.

And twenty.

Seven billion now also here in Washington news that we've been reporting here on fox for the last week the by the end of this week likely President Obama will name Jack Lew.

To succeed Treasury Secretary Tim Geithner right across the street here at the Treasury Department we knew that announced it was likely coming by the end of this week.

No announcement expected today Hamid Karzai the Afghanistan president is in town on Friday so.

We're looking at tomorrow still haven't confirmed that specific portion -- go back to you.

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