As August approaches, President Obama and Republican are at a stand still over raising the debt limit.Social Security, disability, payment to our troops, and many other payments are in jeopardy.The House Speaker walked out of meetings last week stating that he can no longer work with President Obama.This would be terrible for our country ,because not only will they not be able to pay Social Security, we will go in default on our loans from other countries.Our credit rating will suffer and taxes will have to be increased on all Americans.
Think of it this way. When we need a loan, we normally go to our bank. The bank pulls your credit history and make a decision whether you are capable of paying your loan.If your credit is not good the bank would either refuse or charge a high interest rate. Well the same goes for our country. If we go in default and not be able to pay our bills, countries that loan us money will either refuse us the loan, or they will charge a high interest rate. If the United States is charged a higher interest rate, that means we as citizens will have to pick up the bill and pay higher taxes.The economy will suffer even more because people just won't have the money to spend, which could put us in a deeper recession.The global economy will also suffer the affect.If Republicans and Democrats are putting the United States credit in jeopardy to get advantages for the 2012 President election, this is a very dangerous game. I pray that this week, they will put aside these political games and do what needs to be done to get this country back on track.
Think of it this way. When we need a loan, we normally go to our bank. The bank pulls your credit history and make a decision whether you are capable of paying your loan.If your credit is not good the bank would either refuse or charge a high interest rate. Well the same goes for our country. If we go in default and not be able to pay our bills, countries that loan us money will either refuse us the loan, or they will charge a high interest rate. If the United States is charged a higher interest rate, that means we as citizens will have to pick up the bill and pay higher taxes.The economy will suffer even more because people just won't have the money to spend, which could put us in a deeper recession.The global economy will also suffer the affect.If Republicans and Democrats are putting the United States credit in jeopardy to get advantages for the 2012 President election, this is a very dangerous game. I pray that this week, they will put aside these political games and do what needs to be done to get this country back on track.
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