The most powerful country in the world is currently facing the shutdown of its operations; can we believe it? The spending is not approved; so, the government cannot pay its bills. At the same time the government is facing the debt ceiling crisis. What it means is that the government has reached its upper limit of borrowing and any further debt makes it illegal; so again, no more spending.
Both these issues are not new to the government, though. There was a shutdown before and there were debt ceiling crises before. And not surprisingly, these issues were resolved too. There wasn't any choice either.
The current issues will be resolved too; we have history to support when we say that. Then why this big drama? Some might ask. Valid question, but, without a good answer.
I still see the US government and its policies as far superior to any other country's. Again, we have history to back, despite all the problems in the interim.
Nevertheless, I find these current issues as nothing but kids' fight between the Senate and the House; the Democrats and the Republicans; that kid and this kid.
The kid-fight is alright; but the repercussions are not too nice. Not surprisingly, this has made headlines all over for the past many days. Sample this: the stake in 2016; open to short deal; the meeting; the markets; the temporary solution; what they want; the fiscal stalemate; signs of a thaw; pride, the biggest villain. And so much.
The US is never going to default; it is out of question. Its ability to print the mint ensures that. It might come to the point of breach, but, it won't breach. In some time to come both budget and debt problems will be resolved. That is given.
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