Was there ever any doubt? The bickering boys of DC in the once mighty USA are patting, no slapping, each other on the back in congratulatory adulation of the 'historic' agreement they have reached to raise the debt ceiling yet again. It is only historic in that it is history repeating itself, for the 94th time. A six year old can see through the sham. In the last two years, President Obama has added $2 trillion to government spending. Now, he has promised to decrease spending by $1.2 trillion .... over the next ten years! When will these people wake up and smell the coffee? My prediction is: when this house of cards (credit cards) comes tumbling down around their ears, and only then. The situation is beyond repair. The sad part is that we here in Canada will go down too, but maybe not as hard.
One can take a thousand snapshots across the USA that portray the real problem. Every picture will show waste, mismanagement, and debt, whether on a personal level, or some level of governance. Similar to an individual's financial situation, when every avenue of escape has been explored, when every source of revenue has been maxed out, when every structural re-financing has been used, the creditors will hound, the banks will foreclose, 'Bubba' will come with his baseball bat, and YOU WILL GO BANKRUPT! Your life will then be a nightmare for the next 10 years as you try, with great sacrifice to re-establish yourself. It will be painful, but possible.
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