Confronting the aproaching demand to raise the national debt ceiling, your congressman will have to make a difficult choice -- is he coward or chicken? He will either require serious budget cuts ($860 Billion is one proposal), or chicken out in fear of losing re-election from constituents hurt by cuts. Summon the grit to do right by the country, or cover his own bottom.
If he argues for 3 months while the government lives on accounting tricks, our foreign debt holders will see us edging into insolvency and may demand much higher interest return before buying U.S. bonds. Our government's economy could crash. Washington burn while Congress fiddles, so to speak. So who has the grit to step up now and vote for substantial cuts?
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