Debt Ceiling Debate Is Leading US Into Generational Bondage

Morning Bell: Struggle to Solve Debt Limit Crisis Goes On

 The whole charade over the debt ceiling is nothing more than setting up a convenient excuse to remove the US dollar as the World Reserve Currency. This will happen, and the politicians know it, and so they are simply trying to play a game of musical chairs to see who gets stuck with the blame for it. In reality, there is blame and culpability enough to go around for everyone.

Solving this problem, on the other hand, is very simple, and follows the same pattern that you or I would would follow if we faced personal bankruptcy, or that any business that is not in line for taxpayer-funded bailouts would follow.  First off, sell everything that you don't actually need.  Secondly, cut spending on anything that you don't actually need, and stop giving to others when you don't have enough for yourself.  Thirdly, cut up the credit cards, pay off the accounts, and cancel them.  

Would this hurt a lot? Yes.  Would everyone feel it? Certainly.  

I'm talking selling national park land and other government holdings. Yes, we lose a lot of valuable heritage sites, but the lasting pain would be a reminder to never go in debt again. I'm talking no more foreign aid or money to the UN.  No one can buy friends anyway - is our government really dumb enough to believe that this can be done (wait, don't answer that!). I'm talking ELIMINATION of the use of debt by the government and adding an amendment to the US Constitution that the budget must be balanced, and that only Constitutionally-enumerated government functions be funded.  

The US Dollar is not going to be the Reserve Currency in any case.  Too much damage has been done, and even if those in decision-making positions had the courage to do what I am suggesting, it would take years, decades even, for the US to be on stable footing.  

I'm just thinking of future generations here, much the same as the Founding Fathers did.