The Congressional supercommittee charged with finding trillions of dollars in debt reduction has failed in their mission, opening the door to a drastic reduction in the U.S. federal budget. Like most people I would assume that debt reductions would take place in a calm and orderly manner, with decisions on reductions made by adults who […]
In the Republican-controlled House of Representatives, an idea once confined to the conservative ‘wingnut’ fringe of the Republican party has morphed into the party’s mainstream – the belief that intentionally allowing a Federal default on paying the National debt might be an acceptable price to pay to make a political point by forcing the Obama administration to assume ownership of a fiscal mess created by the previous Republican president.
In the movie ‘War of the Roses’ debt and finances were one of the central factors and most disruptive of issues in the relationship between the two characters, and the ensuing all-out war during their divorce, and inevitably, in their annihilation of each other. Believe it or not, nations act in the same manner toward each other.
Moody’s issues shot across the bow to warn US about expanding Federal debt burden.
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