CLERMONT, Fla. — With the looming debt ceiling deadline, some business owners worry this holiday weekend could be the last for them to cash in before rough waters hit.
What You Need To Know
- The U.S. debt ceiling deadline is quickly approaching, causing some local business owners to worry about their financial future
- Tommy’s Florida in Clermont is expecting to have a busy Memorial Day weekend, as more folks head out to the lake
- Tony Carroll says the company’s boat rentals are already sold out, and more people are looking at buying a boat
- If a debt ceiling deal isn’t reached, experts say it could become difficult for small businesses to borrow money
Tony Carroll says his passion for boating got started at a young age. And he’s not alone in is love of the water — this Memorial Day weekend, he says his shop in Clermont, Tommy’s Florida, is sold out of boat rentals, many more people are looking to buy.
“Memorial Day is super busy for us,” he said. “We’ve been hustling for the last two weeks trying to get boats ready for new boat buyers, as well as people who are bring out their boats for the first time.”
During the pandemic, Carroll said everyone wanted to be out on the water. Since then, sales have been steady, and holiday weekends are big business.
If Congress is not able to put a debt limit deal in place, experts say it could mean rough waters for small businesses across the nation.
Carroll says he’s currently in wait-and-see mode.
“What I’ve seen has been fairly steady from back before (the pandemic) — COVID-19 was some craziness,” he said. “We sold out of everything. It’s nice to have some choices for our customers. There’s still a steady flow of them. I don’t think the debt ceiling is really going to affect us — America’s not going down that easy”.
If a deal isn’t reached, experts say small businesses could face difficulties borrowing money. Even though that possibility is on the horizon, in Clermont, Carroll is looking forward to a busy weekend out on the water.
“It’s huge for us,” he said. “We’re getting prepared right now. We’re making sure everything is looking nice and running some big sales.”
A CNN poll released this week shows 84% of Americans surveyed believe that Congress should raise the debt ceiling. Of those surveyed, 60% believe Congress should raise the debt ceiling along with spending cuts, while 24% think it should be raised no matter what.