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Here's how the debt default could impact Charlotte



CHARLOTTE, N.C. (QUEEN CITY NEWS) – Leaders who represent millions of workers and plenty here in the Carolinas say that they have some major concerns, not just because of the specifics of the debt ceiling agreement, but because of the chance that representatives will vote it down and then we’ll have to start negotiations over.

NC Congressman playing big role in debt limit deal

Leaders with the Business Roundtable, the U.S. Chamber of Commerce, the National Association of Manufacturers and the National Association of Wholesale Distributors are all voicing concerns. They’re calling on legislators to take action on Wednesday. The major players in each sector are worried the deal will not pass before that debt ceiling deadline of June 5th.

They predict that if an agreement does not happen, the outcome would be widespread job cuts, higher interest rates, and more disruptions in the supply chain.

Executives say if that occurs and the stock market falters, they won’t be able to keep business going as usual. Now, economists say regardless of how representatives vote this evening, they’re going to turn their eyes to the federal reserve and manipulating interest rates within the next few weeks as a response to the debt ceiling deal, one way or another.

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