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Debt Ceiling - imminent collision

On March 15th the temporary reprieve of U.S. debt ceiling extensions will expire and the new administration will be faced with a choice, allow more debt or cut something.

It will be interesting to see what happens.

Trump will be in a tough place.  He can't work with Congress to raise the debt limit still further, continuing the long history of kicking the problem down the road, nor do I think he's ready to start the meat axe in the tune of billions and trillions to the budget.  Frankly disappointed he hasn't already started this conversation in earnest.

If he does work to pass a massive emergency spending cut, where will this hit?  Who will be impacted?  Military?  Social programs (Social Security, Medicare)?

How would this kind of action impact the market?

We're about to find out.

Either way we are in an unsustainable situation in the short term.  Brick wall ahead.

Link


Personally I've never seen the kind of political will needed to make the depth of required retrenching required to stop the disaster.  Given the momentum inertia and recurring exponential increase in the depth of this problem, I don't see anyway to stop this run away train.

If you're safely in the family of Christ and know the lateness of the hour, there is little to concern yourself with.  If not, you should slow down long enough to be deeply reflective.

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2 comments :

  1. The United Nation of DEBT :

    http://sgtreport.com/2015/08/guest-post-for-those-with-ears-to-listen/

    With a level near of 30% of international debts the US are already DEAD !!!
    Because it is too big, for take back the money...

    ReplyDelete


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