Our political leaders today cannot get an agreement on raising the debt limit, nor even cutting into the massive "one year" deficit, let alone the other debt this country owes. They are debating over a few billion here and there.
But are they talking about looking in the mirror and seeing the same thing happening here as in Greece, Italy, Spain and other countries. Just look overseas to see the true debates. In Greece, the unions refuse to take a cut, remind you of Wisconsin? They are looking at raising the VAT tax also, we don't have one but probably will.
Debt ratings are going down all across Europe. That means higher interest rates for the countries that are issuing debt. How can they pay off all this debt and still be viable?
The true answer is you can't. The hundreds of billions they have spent in Europe have only resulted in kicking the can down the road. How about here? If they can't take care of billions, how are we going to take care of trillions?
This has been going on now for 4 years. The only winners will be those that control the markets and can get their money out in time to avoid the collapse. Have you heard anything about that? Of course not, we will be left holding the bag. Our property values are still going down and the banks still have millions of foreclosures to go. We are looking at massive cuts in government spending, the same spending that supposedly helped us through the crisis. All it did was to line special interest pockets.
Our elected officials talk a good game, but in the end, they like their jobs too much and are willing to sell out us to their special interests.