WATCH: National Debt Crisis May Hurt Local Economy

The debate over the nation's debt ceiling is burning up almost as quickly as the hole in the country's wallet.

The United States is inching closer to the legal debt limit of $14.3 trillion. Lawmakers took jabs at one another over the weekend, reaching no conclusion on whether or not the ceiling should be raised or how to avoid a possible federal default next week. House Speaker John Boehner walked away from the negotiating table twice during the talks and both he and President Barack Obama parties presented significantly different plans to Americans Monday night.

As debates in Washington continue, Patch sat down with Melville Chamber of Commerce President Mike DeLouise to discuss how local businesses might be affected by a federal default.