The potential loss of the dollar as a reserve international currency is now evident. The ability to protect U.S. global interests in the future will be diminished in such loss.
Do not treat unlimited government spending lightly. The repercussions can be extremely serious in matters of our economic and national security.
Think of what is happening with Greece and the European Union. The debt ceiling question is not important. However, spending below that ceiling can resolve the problem.
A budget deficit that cannot be overcome without massive taxation guaranteed to stifle economic growth, is the major difficulty. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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