State Treasurer Ken Miller and a delegation of his fellow state treasurers met at the White House today with the president’s chief of staff and senior economic team to exchange information on the economic health of the states and the status of the U.S. economic recovery.
Miller, who serves on the executive committee of the National Association of State Treasurers, said he believes the dialogue was productive.
“We appreciate the invitation to provide input on fiscal policy from a state level perspective and to learn more about this administration’s plans to address the serious financial challenges facing our nation.”
White House Chief of Staff Denis McDonough and the president’s economic team, composed of members of the Council of Economic Advisors, the National Economic Council and senior officials from the U.S. Treasury Department and Office of Management and Budget, briefed the treasurers on the nation’s economic condition.
The treasurers were told that sequestration was never intended to be implemented, but rather to encourage compromise on a budget and spending solution.
Once in full effect, the White House expects a 0.6 percent decrease in Gross Domestic Product due to sequestration. Administration officials acknowledged entitlement spending was driving deficits and must be addressed. They also stated the current debt ceiling will likely be raised in May.
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For more information contact:
Tim Allen, Deputy Treasurer for Communications and Program Administration