America Could Still Go Over The Cliff — And Take The Rest Of Us With It -- Simon Heffer, Dialy Mail
After America postponed its jump off the fiscal cliff in the small hours of Tuesday night, world stock markets soared. Anyone listening to the BBC yesterday with its headlines praising Barack Obama would think something quite profound had changed in the world’s greatest — if battered — economy. However, it has not.
Intractable problems — chief among them chronic over-spending and weak consumer demand — have still not been solved.
The tackling of those issues has merely been postponed until the end of next month, when America’s legally enforceable ‘debt ceiling’ will probably be reached.
Read more ....
My Comment: Two other must read commentaries on America's debt crisis are the following ....
The Real Country-Killer in 2013 -- Jonathon Moseley, American Thinker
Brace For An Avalanche of Unfunded Debt -- Mort Zuckerman, US News and World Report
Update: At least someone else agrees with me.
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