David, Government isn't the same as personal finance.....never has been,
never will be. Raising a debt limit isn't about spending in the future,
it's about paying for what you approved already over the past
decade or more, via legislation. Solving the debt/deficit thing isn't
all that hard, either. Clinton managed to figure it out. While we're at
it, the concept of forcing a balanced budget is not only idiotic, but
dangerous. What government should aim for is a surplus during the highs
in the cycles and deficits during the low points when you need
government to spend more. Oh, and restoring the rate of taxation that
you and I and many others here managed to 'endure' just fine before Bush
slashed the top end and cap gains taxes would be a good way to start to
balance any future budgets. But, that is common sense, a commodity in
short supply it would seem.
Tom