JACKSONVILLE, Fla. -- In the short term, the cons seem to outweigh the pros, but with the nation's federal debt approaching its ceiling, some First Coast residents say they're more concerned with long-term resolutions.
"I don't mind paying more taxes as long as they come to a conclusion with the budget," says resident, Ledio Somoni.
Somoni is just one resident trying to find the silver lining in the looming repercussions of going over the so-called fiscal cliff. "I'll pay an extra $150-$200 a month," he says. "I don't mind doing that if I know that 10 to 15 years down the road, I know the debt is going to be lowered a lot."
The debt he's talking about is nearing $16.4 trillion, the nation's limit. The U.S. debt limit, or ceiling, was first instituted back in 1917 and Congress has raised the cap more than 70 times since 1962. The last time it was raised was in 2011 to its current statutory limit.
Resident, Stevo Culic agrees with Somoni, saying we didn't get into the situation overnight, so it's not likely we'll be able to get out of it any faster, "We really need to take this one step at a time to get to a certain point where our debt is finally reduced."
Though there's no disputing that there are down sides and there will be short-term problems caused by going over the cliff or any potential deal made by Congress, some are just trying to see a bright side, such as lowering the federal debt for future generations.
First Coast News