Debt ceiling deal will have local impact

TAMPA - Lawmakers may have struck a debt deal on Capitol Hill to raise the nation's credit limit, avoid default and slash trillions in federal spending, still some economics experts believe there will be a cost.

"We're going to take trillions of dollars of government spending and take it out of the economy. The way I see that, is it's the same thing as saying we're going to be un-employing people who are currently working," said Charles Kroncke, Associate Dean at USF’s College of Business.

Kroncke, who specializes in economics, predicts government job layoffs and other linked repercussions to the debt deal.

"It impacts in the private sector as well because contracts that are going out to various different companies will stop,” he said.

Kroncke also believes students will continue to have a hard time finding work when they graduate.

A Tampa financial planner and CPA tells us the debt ceiling debate has already had an impact on jobs.

"I think that people have stopped hiring because of the emotional concern, not the tangible impact yet," Brad Kanter tells ABC Action News.

Kanter agrees job loss is the greatest risk. He adds if you don't plan on taking on loans and can keep your job, you'll be in good shape.

"Unless you're going to really try to borrow money, which a lot of people are not expecting to do that I'm aware of, I don't think it's going to have a huge impact," said Kanter.