Alone in the Car: Congress, I Need a New Credit Card

I have been watching the Lo-o-o-ong debate in U.S. Congress concerning the "Fiscal Cliff". The Fiscal Cliff is a phrase describing certain tax cuts and spending cuts that were to expire Dec. 31, 2012. Both houses of Congress couldn't come to an agreement whether to extend the personal tax cuts or what if any government spending cuts would also occur. President Obama also tried to influence the vote with discussions at the White House. There was something of a compromise at the end.

The President now wants the debt ceiling to be raised by Congress. He has issued many Executive Orders and not sure why he can't issue one to grant a higher ceiling, but nevertheless, at this writing Congress is still required to pass a law to raise the government debt ceiling. Currently the U.S. Government debt is $16,432,632,102,288.69.  
Here is the web site for the debt clock: http://www.davemanuel.com/us-national-debt-clock.php

In the President's News Conference (full print coverage: http://www.zerohedge.com/news/2013-01-14/we-are-not-deadbeat-nation-full-obama-transcript), Obama wants the ceiling raised so bills can be paid for services and merchandise already rendered. His words: "We are not a deadbeat nation".

Don't you just love word smithing? We are trillions of dollars in debt!! All he wants is the capability to go to creditors/other nations and borrow more money to pay the bills we shouldn't have spent in the first place.

Hence, the title "Congress, I Need a New Credit Card". That is what it means to us regular Main St. folks. When one credit card is maxed out, just get another credit card. Then another and another until finally it catches up and bills must be paid.

But not the U.S. Government. Congress just keeps approving programs. Sometimes the law lists no funding and leaves it up to the States to figure out where the money will come from. They have to comply, it's the law. But the feds don't give them any money to see that the law is fulfilled. It is called "an unfunded mandate".

Well, now we have a BIG credit problem in Washington, D.C. And who is going to pay it? From what I can see, no one. 1. They argue about stop spending. 2. They argue about raising the debt ceiling. 3. But no one is arguing about how to pay off the current creditors. So the amount due just keeps going up and up and up. What happens when they knock on Washington's door? All 3 problems are huge.

Make sure you have reliable friends, relatives, groups you belong to. They may become very important in the days and short years ahead. Plan with them and organize yourselves to grow a garden, discuss financial planning, etc. Combine your small resources in making purchases together.

Look out for each other in times of weather emergencies, etc. Any practice of this kind now will prove to be so important in the future.