HERE SHE COMES TO SAVE THE DAY
With Republicans, Democrats, and the President still miles apart on a budget agreement, Ellis Henican believes the end may be a simple one page – or one paragraph – debt ceiling hike.
E-mail ellis@henican.com.
Follow him at twitter.com/henican
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Ellis, I congratulate your pleasurable supposition about agreement in Congress on the debt crisis.My family is concerned about rising interest rates which a ratings downgrade would create.I know that Jimmy Carter 18% rates are not likely but then again many things have happened in the last few years which are unusual and the older folks clearly remember those times. We have no credit card debts, have paid off our mortgage but retained an equity loan. So my family with as little debt as we have and much less than most, would be in the street if interest rates spike by virtue of just one equity loan and the funds we would have to part with suddenly to lower the balance. The Stock Market has lost 450 points in the last few days. Considering the whole picture, what will happen to the average man and woman and children in the street?