Keller @ Large: Grossman Talks Debt Crisis And Its Effect Locally

BOSTON (CBS) – The nation’s credit crisis is causing a lot of concern on Wall Street and in local communities concerned about their credit rating.

The recent economic and political turmoil in Washington is putting the credit rating of some cities and towns in Massachusetts at risk of downgrade.

“I think it’s pretty clear that we are in some kind of economic crisis. How you would define it? That’s obviously in the mind of the beholder. On Friday, the consumer confidence numbers came out – the lowest level in 31 years. People are frozen, paralyzed, uncertain, fearful, and that goes for small businesses and large businesses. When businesses are in that kind of a mindset, they don’t invest, they don’t hire, and it could have a chilling effect on the economy,” said State Treasurer Steve Grossman.

Part 1:

Recently, Grossman called on Congress to cut short their summer recess and get back to work dealing with the nation’s budget woes.

Part 2:

“Why on earth does Congress take a month off, not come back until Labor Day, not have the first meeting of this 12-person bipartisan commission until the 16th of September when the British prime minister had a crisis in Britain, he cut short his vacation, brought Parliament back to try to deal with the crisis. Let them get to work right now. Let them bring out the work of the bipartisan commission…and get a deal done for the American people,” said Grossman.

You can listen to Keller At Large on WBZ News Radio every weekday at 7:55 a.m. and 12:25 p.m. You can also watch Jon on WBZ-TV News.

More from Jon Keller

One Comment

  1. Willow says:

    Heaven forbid a vacation be interrupted. What does that tell everyone? It certainly tells me that the problems of this country are not important enough for them to give up one day of their “time off” to solve anything. Besides, why bother coming back? No one will agree on a solution if any are suggested anyway.

  2. BostonIrish says:

    It’s institutionalized, the “schedules” that must be adhered to for the elected officials! If so much is broken, so much needs attention, and all of it is very important, why the hell aren’t they coming in and fixing it???? Pathetic and empty!

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