Thursday, March 1, 2012


A few months ago, after a lot of hoopla and after a threat of downgrading of the USA's AAA debt rating Congress increased the debt ceiling to $16.4 TRILLION.  Sure there was a Super Committee set up to come up with a solution but that did not work out so well did it?

Washington was smart enough to allow for borrowing enough money to get through the November election, but that is it.

Here is the problem, the debt limit is just a limit for old obligations, not for new obligations but for current obligations. And we still keep spending money we don't have.

That would be like asking for a higher credit limit on your credit card but having already made the charges at the store. You could not run your business or your house budget like this. 

We need to ask ourselves 'Where is the money going to come from?'