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Here Comes Congress’ Next Big Economic Crisis, And It Could Be Even Worse Than The Fiscal Cliff

May 18, 2014 /

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On Wednesday, President Barack Obama gave his first formal warning about this impending self-inflicted disaster — the Highway Trust Fund, a transportation and infrastructure fund financed by gasoline taxes, is set to run out by the end of the summer.

Thus far, Congress has not come up with a solution, and both sides are beginning to dig in. By July, thousands of projects and contracts could be put on hold amid the uncertainty — right in the middle of summer construction season. In one economic analysis released last week, the Obama administration warned 700,000 jobs tied to the fund and its uncertain future are at stake.

Brett LoGiurato

Full Story: http://www.sfgate.com/technology/businessinsider/article/Here-Comes-Congress-Next-Big-Economic-Crisis-5480887.php

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