Eastern Iowans trying to follow national debt debate

CEDAR RAPIDS - While politicians in Washington, D.C. try to hammer out some sort of a compromise debt deal, people in eastern Iowa are watching and wondering just how it will all end.

Eastern Iowans may not be watching the comings and goings of participants in the great debt debate on a daily basis. But many said they do have expectations.  Maneta Hunter, who was enjoying a meal at the Witwer Congregate Meals program, just wanted whatever happens to be fair.

“We don't mind making a sacrifice but we think everybody should make the sacrifice - rich farmers that are getting subsidies for the corn,” Hunter said.

Another diner, Glen Harris, echoed another common concern. They also want politicians to not crash the economy.

“They'll work it out. I really think they will,” Harris said adding “if not, it will be a mess.”

The average diner at Witwer probably couldn't explain the crisis details. But they do have a pretty good idea of how it might impact their lives. Many at the congregate meal site depend on social security payments. They worry what will be cut there in that program. And a good number also use congregate meal sites to help stretch their food dollars.

The Witwer meals program got hit with a 10 percent reduction in federal Agricultural Department funding July 1

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. Executive Director Myrt Bowers said if the budget deal cuts more in their funding that will trickle down to the diners in a negative way too.

“Over 70 percent of our seniors are living on the minimum social security payment - which is anywhere from $600 to $1,200 dollars a month,” Bowers said.

Another local concern is how investors will react to the pending crisis and deadline day of August 2

“I have not had any calls saying ‘sell out the portfolio' or take me back to cash or anything like that. But it's certainly in the back of their minds,” Utecht said.

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for a deal on the federal debt ceiling. Local Cedar Rapids broker, Harlan Utecht of Wyndham Investments said he senses concern but not fear in the calls he's getting from clients.