More than $270 million in federal revenue to Freeborn County residents and local governments could be impacted if the nation defaults on its debt obligations, according to a report released Wednesday from Minnesota’s U.S. Sen. Al Franken.

This includes impacts to federal retirement, disability and Medicare payments, grants to state and local governments, and federal purchases of goods and services.

Many other government services are also at risk for being disrupted.

“I believe we have to act quickly and responsibly to avoid economic disaster,” Franken, a Democrat, said in a news release. “If we don’t raise the debt ceiling, the consequences for Minnesotans are huge. Minnesota receives nearly $46 billion a year in federal money, and that flow will be interrupted immediately. I don’t want to let that happen.”

He detailed the potential impact on Minnesota counties that could be felt if the debt ceiling is not raised by early August. The figures are from the 2009 census data.

The data states for Freeborn County alone, more than $110 million is at risk for retirement and disability payments to residents, more than $85 million for Medicare and other direct payments, more than $68 million for state and local grants, and more than $1 million for federal purchases of goods and services.

Franken’s report states about $335 million to Mower County residents could be impacted, about could be impacted, about $201 million to Steele County residents, and more than $145 million to Faribault County residents.

According to the release, a recent analysis by J.P. Morgan shows that in addition, if the country defaults on its debt even briefly, interest rates could rise enough to increase the interest on the average family’s credit card debt by $250 annually and would likely raise interest payments on many mortgages. The cost of utilities, food and fuel could also rise significantly.

Franken said residents in each county in the state will be impacted if the federal government cannot agree on raising the debt ceiling. The effects felt would be exponentially worse than the recent state government shutdown.