Don McNay weighs in on financial crisis, Paul Ryan

Vice presidential running mate Rep. Paul Ryan, R-Wis,left,  his wife Janna and daughter Liza and sons Charles, and Sam, right, during a welcome home rally Sunday, August, 12, 2012 in Waukesha, Wis. (AP Photo/Jeffrey Phelps)

Vice presidential running mate Rep. Paul Ryan, R-Wis,left, his wife Janna and daughter Liza and sons Charles, and Sam, right, during a welcome home rally Sunday, August, 12, 2012 in Waukesha, Wis. (AP Photo/Jeffrey Phelps)

HAZARD, Ky. (WYMT) - One of Kentucky's leading economic consultants said the financial crisis may worsen before it gets better.

Don McNeal made his comments during a recent taping of "Issues and Answers" on WYMT-TV.

McNeal said America's historically low interest rates remind him of situations that other countries have encountered.

"Japan got to a situation where they charged people to put money in the bank. That could be us pretty soon," McNeal said. "I don't think interest rates have fallen to their lowest point yet. And people think that's crazy, but I remember growing up with 15, 17 percent interest rates."

McNeal also said presidential candidate Mitt Romney's choice of House Budget Chairman Paul Ryan as his running mate on the GOP ticket is a risky move, but it should pay off.

"The more I look at the pick, the more I think that it's a good one and it helps define the issues that we're talking about," McNeal said. "I'm a Democrat but I'm tired of all the debt and tired of all the spending."

You can catch a replay of "Issues and Answers" this Sunday at 7 a.m. or by following this link:

http://www.wkyt.com/wymt/news/issuesandanswers


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