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Our debt ceiling, which is 14.3 trillion dollars, for the U.S. Government is going to be reached on August 2nd and talks between John Boehner and President Obama have broken down.Our governments spends more than it makes and there is a law on the books which was first passed in 1917 that caps the federal debt. Unless the debt ceiling is raised, we will default on our countries debt. This means our country will technically be bankrupt. The cusp of the disagreement between Democrats and Republicans is that Obama wants to raise the debt limit without paying down our debt or paying it down a little. Obama wants a tax increase on the wealthy. Republicans want to cut our deficit by paying down our debt and they do not want to raise taxes on anyone in this very weak economy, even on the rich because they create jobs. Democrats are blaming the Tea Party for their anti-tax rhetoric and debt re-payment positions. They say if we default it will be the fault of the Republicans. Republicans have put forth plan after plan to get our fiscal house in order with no plan given by democrats or the President. It looks like a lot of blame is going around and not a lot is being done to help our economy get strong again. I can’t see raising the debt ceiling and kicking this problem down the road to be a bigger problem later but no one wants the Treasury to stop printing social security checks either as Obama has warned would happen. What do you guys think about all of this mess out there? What is our recourse as Moms? If things go into another recession or even a depression, are we ready to garden again and raise chickens for food? We might have to get back to the 1800 basic lifestyle. Give me your thoughts.
