President Tells Reporters "That's My Main Concern" In day 5 of negotiations between Democrats and Republicans, no agreeable solution has been made to raise the debt ceiling to keep America from defaulting on its financial obligations. If the deadline passes without a consensus between the parties, the results could be dire. President Obama speaking during Friday's press conference in the James Brady briefing room. Photo/CD Brown. Chief Advisor to the president, Valerie Jarrett, speaking on the Joe Madison show this week, explains. "The affect on everyday people will be devastating", Jarrett said. "We've already heard from the rating agencies that they will consider downgrading on our debt. If we default on our obligations, it's just like anyone else who defaults... you're creditors will lose confidence in you." Jarrett further explained that interest rates could go up which would increase credit rates and mortgage len...
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