NC members of Congress get an earful on debt limit debate |
Written by Stephanie Hawco/David Horn
|
Wednesday, 27 July 2011 10:04 |
(WASHINGTON, D.C.) -- President Obama's appeal this week for Americans to let their lawmakers know how they feel about the debt limit debate may be having an impact. Two members of North Carolina's congressional delegation are among those whose phones are lighting up over the debt debate.
U.S. Senator Richard Burr describes the consequences of defaulting on the national debt. "The fact is that we've got to be conscious of the financial markets. We've got to be conscious of the impact that has on individual's savings. We've got to be conscious of the fact that any adverse reaction by rating agencies would increase our borrowing costs," said Sen. Burr.
Congressman Brad Miller described how defaulting on the debt would affect Americans. "If we have our credit worthiness downgraded, it is going to cost American taxpayers probably hundreds of billions of dollars in extra interest," said Miller.
A plan from U.S. House Speaker John Boehner is scheduled for a vote on Thursday. If it passes the House, it is not expected to fair well in the Senate.
|
Last Updated on Saturday, 30 July 2011 00:00 |