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 - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
... [Read Article]
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