Doomsayers depicted the United States at the edge of a fiscal cliff waiting for salvation from “Godot.” Ostensibly, we didn’t know whether there was a safe path downward, a hang-glider to waft us away, or whether we would plunge into the abyss.
But the bullet was dodged; “Pauline” escaped the oncoming railroad train.
Nobody, however, should believe the three-month extension of U.S. government operations and the debt ceiling is a solution. Not even an armistice; it is more of a re-loading break. And anyone expecting positive results from the bipartisan conference addressing major fiscal issues by mid-December is deliberately delirious.
There are two facets to continuing confrontation: government spending and the debt ceiling. But the existential issues are politics within both Democratic and Republican parties.
[ David Kilgour: A temporary agreement is better than no agreement at all ]
The Shutdown. The government shutdown — no matter how long it persisted — was a domestic problem. Only Read More »from U.S. debt crisis: Three-month extension is merely a re-loading break