President Barack Obama is demanding that Congress raise the federal debt limit quickly. He says benefits including those for veterans will be delayed if they don’t, and warns Republicans not to demand concessions in exchange. (Jan. 14)
Yes we are “Dead Beat Nation”. When consumer spending (where almost half is based on borrowing) is the largest component of any economy it can never be sustained long term. It’s only a mater of time before the government runs out of money to issue the people for distribution.
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