{"id":4505,"date":"2011-07-14T06:37:36","date_gmt":"2011-07-14T12:37:36","guid":{"rendered":"http:\/\/www.jasonapollovoss.local\/?p=4505"},"modified":"2018-09-21T02:05:38","modified_gmt":"2018-09-21T06:05:38","slug":"overview-of-the-us-debt-crisis","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2011\/07\/14\/overview-of-the-us-debt-crisis\/","title":{"rendered":"Overview of the U.S. Debt Crisis"},"content":{"rendered":"

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Both Moody’s and Standard & Poors stated yesterday that they are prepared to downgrade the United States’ vaunted AAA credit rating if the country’s borrowing limit is not raised by Congress past its $14.29 trillion threshold.\u00a0 I consider the U.S. debt crisis to be a seminal moment for the country.\u00a0 Why?<\/span><\/p>\n

Regardless of the outcome, the United States is finally having a substantive conversation about its debt\/leverage culture<\/a>.\u00a0 Further, the two major political parties in the U.S., Republicans and Democrats, are finally having a substantive conversation about the irresponsibility of never balancing a budget, or having a budgetary surplus; and of a tax code that is insane.<\/span><\/p>\n

Importantly, both political parties bear responsibility for this impending crisis.\u00a0 In a moment of national and international importance it simply does not serve the magnitude of the issue to point fingers at who is responsible for the current state of affairs – what matters is the future!\u00a0 I laud the Republicans for insisting that this discussion occur, but I also laud President Barack Obama for insisting that a discussion about how to increase U.S. revenues takes place, too.<\/span><\/p>\n

I agree with the following details of the current negotiations:<\/span><\/p>\n