The Debt Ceiling Debate?

[LoveLife&Laughter]

Here we go again ...

[exedir]

The again part is what's important.  This isn't a question of debt or even how much debt(see the discussion of the $1 trillion coin).  It is a question of how much and what spending is going to be sustained in the face of growing debt obligations and interest payments.  

If the Republicans are correct in demanding a $1 of spending cuts to $1 dollar of debt we still won't have settled the debt crisis, if it is a crisis.  The real reduction of debt can only come by increased revenue and decreased spending in magnitudes not even envisioned in the up coming fight over the debt limit increase.  

In truth the spending is already baked in what congress has done in the past with entitlements.  And to seriously decrease spending for even a short period of time sops up cash which could be used to invest.  However, one of the problems we have is too much cash, and too much deflation, and too much wealth destruction still ongoing to create the only way out of this, growth.