One thing for sure about the US DEBT Crisis is that in the long term there is no question that THE PUBLIC WANTS BALANCE!
From a recent editorial in the Philadelphi Inquirer**********"At this late hour, chances for a "grand" bargain that would stabilize the nation's finances for the long term by using a mix of deep spending cuts and modest new revenues are almost nil.
At best, it looks as if Congress will instead produce a short-term fix, which allows this disruptive and economically destabilizing political fight to drag on.
The persistent uncertainty over whether the government can pay its debt and other bills has placed in jeopardy the world's best credit rating and threatens to drag down the economy by raising interest rates. Those higher rates will act as a tax increase by driving up what Americans pay for mortgages, car loans and credit cards."