The US national debt default crisis has seemed a politically-charged farce from day one … but it has become a danger to the planet of late …
A few things seem obvious to all intents and purposes:
- The debt ceiling must be raised immediately in order to provide some confidence in the US as a borrower – sheesh, since when is it acceptable to play chicken with your creditors unnecessarily?
- The budget must one day be balanced and then some – unless their long term plan is to screw literally the whole world when they can no longer afford their crushing debt. It seems obvious that they will have to figure out what they can afford and start right sizing their budget.
- A functional government should make a long term plan to cut out the fat and work over the span of perhaps a decade or so towards getting back to a budget that can start reducing the overall debt instead of making it so much worse each year …
So forgive me, but from a practical perspective I see no rocket science in there anywhere.
Of course, the battle these days has nothing to do with creating a healthy country and everything to do with power. Its acquisition and its abuse. A rather sad spectacle …
Oh … and it would be nice if our own conservative government could avoid playing chicken with our well-being here in Canada. The liberals had to get it all under control when the IMF came calling … do we really want to repeat that experience?
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