This is very simple, raise the debt ceiling. All this talk of tying deficit reduction to the debt ceiling is political posturing. The debt ceiling has to do with past appropriations, the deficit reduction has to do with future commitments and how we choose to defines our government and society. It is apples and oranges. A simpler way to debate this and a less scary way is to separate the two issues, raise the debt ceiling and then hash it out between the democrats and the conservatives as to whose vision of government reins supreme, the conservative view of kill or be killed, the social Darwinist approach, or the democrat view where we lift all the boats so that society as a whole can flourish.
Read the Article at HuffingtonPost
Federal Reserve Actively Preparing For The Possibility Of U.S. Default
21 Thursday Jul 2011