The U.S. Is Politically Bankrupt

At least for the moment, the U.S. Senate has averted a crisis over the federal debt ceiling, after some Republicans in the chamber grudgingly agreed yesterday to help Democrats put off a reckoning until December. That the United States has endured confrontation after confrontation in Congress over the issue—and will almost certainly do so again mere weeks from now—is, as many other commentators have noted, utterly absurd. If you were in the prime of your life; had a good, stable job; and needed money to make your beautiful, old house safe and comfortable, wouldn’t you take out a loan—and especially so if you found out lenders were rushing to give you money at just about 0 percent interest?

The U.S is not a homeowner, but it can , and failure to raise the congressionally created debt ceiling is tantamount to saying the U.S. will not make good on