...three examples. GE capital has just suspended credit to a Midwestern regional chain. That effectively stops growth and new hiring for that chain until credit eases up. The largest Chevrolet distributor in the country, owner of thirteen Chevrolet dealerships, is going out of business. GMAC cannot provide adequate financing for them to continue operations. (Also stuck witha huge inventory of unsellable SUVs and pickups.) Caterpillar, one of the strongest companies in the world, with worldwide sales in the billions, just issued new bonds. It wasn't that long ago that their bonds were set at 5%. The underwriters of the new bond issue forced Caterpillar to offer the new bonds at 6%. Now, you know what 1% difference in your mortgage can make over thirty years. Figure out how much 1% over thirty years is on a $500 million bond offerring. Then think of what that additional cost WON'T provide for Caterpillar. Employees will see fewer and smaller pay raises. Those additional men they desperately need in assembly won't be getting hired. Stockholders will see slower growth in both value and dividends. That likely means YOUR retirement savings are affected - on Monday, when the House voted down the $700 billion relief package, the collective values of all the 401k's in America lost $850 billion. Credit is evaporating or costing much more than it did last year, last month, and last week. If you think that Congress can sit back and do nothing you're sticking your head in the sand and denying reality. The relief package in its current form still stinks, but there MUST be a relief package.