Debt-limit deal is crucial to construction industry's survival

07/20/2011 | Engineering News-Record

The consequences of a debt-limit standoff will be severe for a construction industry already beset by double-digit unemployment figures. Industry experts contend that even if a deal is reached on raising the debt ceiling but spending is further curtailed, the effect would ripple across all sectors of an industry that has many projects that rely on federal funding. The aftermath of not raising the debt limit would be "potentially far-ranging, disastrous and unforeseeable," according to Ken Simonson, the Associated General Contractors of America's chief economist.

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