If it is going to cause default now, then it darn well will cause default when it grows even larger!
Yes, it is all about spending....overspending.
Raising debt limit isn't necessary now, since we are spending about 40% of intake on interest, but it will be when we are spending 60, 90, 100% (?) on interest. Right now we have 60% of that total which we can trim on & still meet interest payments. At the rate we are going, soon we will have 0% to trim on. The overspending has got to stop. Big problem: those on the receiving side of the ledger don't want to see any of their take disappear, even though it is a result of overspending. The way it is, it is only a burden to those on the paying side of the ledger. Keep it up & there will be none left on the paying side. Then, where is your 'take'?
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Today's Featured Article - Hydraulic Basics - Part 2 - by Curtis Von Fange. In the last entry to this series we gave a brief overview of hydraulic system theory, its basic components and how it works. Now lets take a look at some general maintenance tips that will keep our system operating to its fullest potential. The two biggest enemies to a hydraulic system are dirt and water. Dirt can score the insides of cylinders, spool valves and pumps. Wate
... [Read Article]
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