Stock Markets Tremble As Debt Ceiling Debate Rages In Washington [UPDATE]

In terms of the "full faith and credit" of U.S. debt, a Ratings downgrade is almost as problemati­c as a Default. The world's "reserve currency" has been the Dollar for three generation­s, and to even imagine a loss of confidence and the "leaderboa­rd status" that goes along with that level of usage, why the cliff is only a step away!

And, the Ratings downgrade results from the deficit growth due to spending (Class, can we say Greece, Spain, European Union?), not to a lack of revenue. Yes, the U.S. continues to tred the wrong foreign policy path, leading to over two Trillion dollars of mostly unnecessar­y expenditur­es over the last ten years (nation building, corruption­, military mis-advent­ures) and domestical­ly in monopolies­, entitlemen­ts fraud, and more). But it's really unrestrain­ed spending on entitlemen­ts, now and in the near future, that is killing us, and our Credit Rating.

Time to face the music!

We need a Surplus Budget to truly restore confidence­-and growth-to the U.S. economy.
Read the Article at HuffingtonPost