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Wednesday, Aug. 31, 2016

Nation's deficit debate creates local concerns, debate

Saturday, July 30, 2011


SIKESTON -- While Republicans and Democrats, conservatives and liberals and the legislative and executive branches bicker over the debt ceiling, local residents as well as the rest of the nation are voicing concerns over what will happen should Congress fail to reach an agreement.

On Friday, the public watched the Stock Market continue its sharp fall after a dismal report on economic growth added to a growing sense of unease as the federal government neared a Tuesday deadline to raise the nation's borrowing limit.

If Congress fails to act, the U.S. may not be able to pay all of its financial obligations after Tuesday, including interest payments on bonds and the salaries of federal employees. A default on U.S. Treasury debt could wreak havoc on financial markets and the economy.

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