The inability of Congress and President Barack Obama to reach a deal on raising the national debt ceiling leaves retired Air Force pilot Phil Pignataro filled with feelings, none of them good.
“All the negative emotions you can think of I pretty much have when I see that there’s no compromise and they’re willing to ruin the economy,” said Pignataro, a 65-year-old who lives in Algonquin, Illinois. “For better or for worse, my retirement is all tied up in the government.”
Polls and interviews conducted over the past two days show Pignataro is among Americans growing disenchanted by and disconnected from congressional leaders and Obama, even as they face a personal economic reckoning.
If Aug. 2 passes with no deal, the government won’t have money to pay monthly Social Security checks, veterans’ benefits and contracts with businesses, President Barack Obama said in a televised address yesterday. Interest rates on credit cards, mortgages and car loans would skyrocket, Obama said.