August 1, 2011

Is life as we have known it in the United States over? Or can we be saved and go on to even greater things? Who’s responsible for this situation? The ultimate culprit is clear and we will let you know in this installment of Yesterday, Today and Tomorrow.

To most people the debt limit used to be related to how much money they had left in their credit cards. That’s all changed with the election of the new congressmen from the tea party. We may not know exactly what the Federal Debt Limit means but we now know it’s really important. Raising the Federal Debt Limit used to be a relatively simple thing. It’s been raised 49 times under the Republicans and 29 times under the democrats since 1960. But now this new breed of Tea Party politicians, many who have never held office before, are saying, “If we can’t have the cuts in government that we want, without taxes, we are not voting for an increase in the debt limit.” This has set off a panic predicting not only the inability of the US government to honor their commitment to Social Security, Medicare, Military salaries, and all of its other responsibilities but also a worldwide impact that could lead to another recession. Can you take another hit? Will you lose more than you already have? Is this really going to happen? Time is running out.