Michiganders react to debt limit deal
Wed, 16 Oct 2013 22:46:24 GMT —
Itâ??s a last minute save---pending House of Representatives and Senate approval, the nation will not default on its debt and the partial government shutdown will end.
â??I wish both parties would come together and just work together to try and come up with a plan because it's hurting people in general,â?? says Lynn Carr, who lives in Lake Orion.
While it seems Congress is working together, the deal is short-term.
â??I don't think that just moving the debt ceiling and keep on pushing it every couple of months is able to sustain the system,â?? says William Balcer, a Flint resident.
â??If we're going to do this every six months, the odds are, those credit agencies are going to look at us and say, we're not sure that this is a sound investment,â?? says Paul Rozycki, political science professor at Mott Community College.
That could send interest rates skyrocketing. Student loans, mortgage rates and car notes could cost you more.
â??I have to worry about paying my debts off as it is but if my loans were to, or the interest rates were to go up, I would have to worry that much more,â?? say Balcer.
â??There has been pain. We can't measure all the effect on Wall Street. Much of this has felt on Main Street, says Dan Kildee (D-Michigan).
On Flintâ??s Saginaw Street, Michiganders just want Congress to get it together.
â??I think it should be a give and take and I think the people of the United States are hurting,â?? says Carr.
â??Our congressional leaders, they all have equal blame,â?? says Balcer.