The Fiscal Deal In Washington -- The Economist
Worse than Europe, really.
None of the deeper problems with American government was solved this week
IMAGINE you are in a taxi and the driver suddenly turns violently and speeds towards a wall, tyres screeching, only to stop at the very last moment, inches from the bricks—and cheerfully informs you that he wants to do the same to you in three months time. Would you be grateful that he has not killed you? Or would you wonder why you chose his cab in the first place?
That is the journey Congress has taken the American people on over the past few weeks (see article). The last-minute deal to raise America’s debt ceiling, avoid a default and reopen the government at least until mid-January, which was signed by the president on October 16th, is welcome only compared with the immediate alternative.
Read more ....
My Comment: A trillion added to the U.S. debt .... how can anyone celebrate? But here is some more depressing news that very few media outlets are covering .... there’s no actual U.S. debt ceiling right now.
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