Wednesday, June 29, 2011

Facing Debt Reality

It is time to face reality on the federal debt limit:

This writer isn't sure that the federal debt limit should be raised at all. Fears that the United States may default on their debt, and what may subsequently happen as a result, are very real. By simply raising the debt limit every time the Union faces default, we do nothing but delay the inevitable. Putting off default may keep the economic and and political consequences at bay for now, but without radical reductions in federal spending, default will still eventually come upon us at some point. When it finally happens, will it be worse for the country because we simply put it off to avoid the consequences?

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