US Debt Talks

It is now almost 10am eastern time on Friday July 29th. Yesterday, the planned House vote on a package to cut spending and to raising the federal government debt ceiling has been delayed. The US treasury has projected that it will be unable to pay all of the government obligations after August 2nd, which is now just a couple days away. The fact that the American government, our government, has been unable to come to any agreement on this is a saddening show of what we have come to. I would have thought, perhaps naively, that for something so serious, politics could have been put aside and the well being of the nation taken into account. For all of the talk about how a default would be unthinkable, and a travesty, and that the US could not default on our obligations, the fact that there has been no agreement yet speaks volumes about what has happened to our government. Washington has been engrossed, on both sides, by the idea that all politics is a zero-sum game. Both the Democrats and Republicans have become completely unable to come to any agreement lest it is seen as a victory for the other party. Perhaps, you can say that we only get the government that we deserve. Hopefully, that is not the case.

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