I had to suffer being knocked off-line for a few days. During that time, I have watched and listening to all the back and forth and political posturing coming from the Obama administration and the congressional Democrats and Republicans. Regardless of where you are in the political realm, I hope those saved by the blood of Jesus Christ are praying for this country’s debt crisis.
If we go into default, not only will we it affect this country negatively around the world, but here there would be a rise in interest rates propelled by a fall in the number of bidders for new Treasury bonds. This would affect higher costs in home mortgages, student loans, credit cards and auto loans. Could you afford for your mortgage rates to go higher. If you think the foreclosures are bad now, well you have not seen anything yet. It also would increase the federal deficit by raising interest rates on the debt. Read more here. Christians please pray.