The Debt Ceiling...Raised Or Not!
I'm looking at this issue as a private tax paying citizen in the lower income bracket and retired. That is enough to lose sleep when you just don't know if you wake up one morning and you owe more on your mortgage and automobile payments than you can afford on fixed incomes!
The scary part I imagine for many of us is the congress and senate members being so far apart in what should be done. We know 2 August is the deadline we have to make a decision about this issue. That's less than a week away. Then to see your social security check stop coming and your disability check stop coming I just don't see many of us surviving if the ceiling is not raised. Sure we need to stop spending money as a country when we don't have it. That is the point our members just come to an agree about. Some of them have "Pet projects" for their home state who elected them to congress.
It's going to hurt many of us here at stroke net. We have one household member working while the other member is trying to recover from a stroke or in some cases no one holds a paying job while caring for the other household member. Perhaps if we were retired on salaries like the congress members and the President gets after their term it wouldn't be so devastating to survive.
I hope they get their act together and get the job done so the United States don't default on our loans held by other countries! Many of us would be in a big bind trying to pay our bills with the added interest. Even on credit cards with variable interest rates will hurt very much.
I guess we could say a prayer that we get it right and not blame the President or each other at this point. I for one is losing sleep and have been in touch with those companies I owe and I'll be glad when we know what will happen before 2 August 2011.