For people not addicted to TV reality shows and the baser things in life, the Founders of our country warned of what would happen if we got into too much debt. They have something to say to us across the years if we will pay attention.
Possibly the most profound remonstrance concerning debt came from Thomas Jefferson, who said, "I place economy among the first and most important virtues, and public debt as the greatest of dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt. If we run into such debts, we must be taxed in our meat and drink, in our necessities and in our comforts, in our labor and in our amusements. If we can prevent the government from wasting the labor of the people, under the pretense of caring for them, they will be happy."
Has this no meaning in 2011? Of course it does. Wisdom is not bound by centuries, but people must act on wisdom before it can work its magic.
Manipulating federal retirement investments is not a serious response to having reached the debt ceiling. Calling a "contractor" to lower the ceiling by reducing debt would be serious. Are there enough serious people to do the necessary budget-cutting work in Washington?
Commenting on the debt ceiling having been reached, Senator Marco Rubio (R-FL) said it "further highlights the failed leadership and reckless spending that has our country heading toward a Greece-like day of reckoning. We are better than that."