How Dire is Washington's Debt Ceiling Crisis in Eagle Rock? (Video)

Republicans and Democrats in Washington D.C. are deadlocked over a deal to increase the federal government’s $14.3 trillion debt limit—the amount of money the nation owes to its creditors, most notably China—and avoid defaulting on its loans for the first time in history.

Unless a deal is reached by the morning of Aug. 3, the government will be unable to pay for everything from health and education to tax refunds and Pentagon salaries. The crisis could cause a global catastrophe that may well make the 2008 financial meltdown and the recent recession seem like a picnic.

We asked some Eagle Rock residents what they thought about the stalemate in Washington and the looming crisis that threatens us all.