It seems to me typical, and workable, that most people start accumulating debt when they are young, then they realize it is a problem and start working out of it. Most have little debt in their later mid-life. It seems to me the USA is at the end of mid-life, and we need to be doggedly determined to cut debt.

At present, our country seems to think debt is free and easy and unlimited. All rational people know better.

We must reduce our debt. It seems raising the debt limit is a bad idea to me. We need to cut the budget. Of course, a quick look at the numbers shows why that is almost impossible in practical terms.

My good Senator Coburn loves to harp on the nonsense spending, but most of that amounts to very little in terms of the overall problem. Lots of people like to crow about moneys our government sends to other countries. Seems an easy place to cut to me, but we are still in small numbers compared to the overall.

The Herminator wrote a short note here:

Over at the Foundation for Economic Education, D.W. MACKENZIE, writes: ”

The assertion that a debt crisis would impair an already weak economic recovery is correct. However, any claim that the federal government is up against a hard deadline to meet its legal financial obligations is utterly untrue. The federal government holds vast amounts of property, all of which is available to be sold off.” here:

The article is worth reading. Do you realize we spend billions on vacant buildings? We don’t even know exactly how many.

Of course, we have receipts of actual tax dollars coming in every day, nearly 60% if memory serves. I bet we can manage for some months letting the government limp along on at half-speed.

It seems to me there is no crisis. Just a lot of hyped politics.