Between now and approximately August 2nd, there will be a great deal of discussion, if not debate, about the Federal debt limit. As you think about it, please visit http://www.usdebtclock.org/ frequently.
We tend to focus on the horrifying grand total at the top of the page, but please notice the components of it. For example, it is interesting that some Personal Debt is decreasing. People are paying down their debt, which is a good thing in the long run but a bad thing in the short run, because people are not using their money to buy "stuff."
The government must do what families are already doing. (Of course, families can actually make decisions.) Unfortunately, that will also slow down the recovery . . . but essential anyway.
I'm also concerned that Small Business Assets are decreasing, while Corporation Assets are decreasing. We know where jobs are produced and think a NASA-style program to help small business should be considered.
However, the scariest number is U.S. Unfunded Liabilities at the bottom . . . yes, that's $114 TRILLION!
