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Albemarle Financial Planner Looks at Debt Ceiling Issue

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One Albemarle County financial planner says the debt ceiling issue plaguing Washington isn't the end of the world.

David Marotta says if the debt ceiling is reached the consequences will be large but not devastating. Marotta is the president of Marotta Wealth Management. He says the stock prices will drop, gas prices will go down and the dollar will strengthen.

"The dollar has been getting weaker and weaker as the federal government floods dollars on the market. If we hit debt ceiling and you suddenly have to pay cash for everything, the dollar will get stronger," said Marotta. 

If a compromise is not reached in Washington, Marotta believes the government will not shut down but some services may have a difficult time operating.

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