LINCOLN, Ill. (WBBM NEWSRADIO) -- There’s too much at stake, says U.S. Sen. Dick Durbin, for Republicans to dig in on the debt ceiling crisis.
“Businesses will lay off workers if we default on our debt,” Durbin told reporters Monday in Lincoln. “People will find interest rates going up. Fewer homes will be sold. Fewer cars will be sold. We’re also likely to see people who have invested their life savings in a retirement account - if they have any investment. for example, in equities or stocks - they could suffer as a result of this. The net result of this could be disastrous for families and businesses.”
Durbin used the word “hope”, but said he has been vascillating between optimism and pessimism.
Durbin was in Lincoln to announce a rural health initiative.
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