DO NOT PANIC ABOUT THE DEBT CEILING

No matter what happens regarding the debt ceiling, it is important for us "little guys" to NOT PANIC. Do not sell ANY investments until the market settles down.

History tells us that a US government shutdown will not last very long.

The debt is not really anywhere as large as the media keeps saying. About 32% of the 'debt' is owed to other US governmental agencies. This is sort of like you 'borrowing' from your vacation savings, which is not at all the same as borrowing from the bank. This means that comparing the US debt to other countries MUST take into consideration the amount of debt the other countries owe to themselves. (This is why my Dad would say that the biggest lies are told using statistics.)

Now is a really stupid time to play debt ceiling chicken. (Chicken is a game where young idiots drive cars aimed at each other until one of them turns away.)

But the issues this time are really important. The Republicans want to keep all tax breaks for the rich, and cut Social Security, Medicare, and essential services for the poor. Many of the newbie Republicans are unwilling to listen to advice regarding the reality of politics. These newbies remind me of the tenderfoot in the Old West. (Death rates for a tenderfoot was even greater than the death rates for people who play chicken.)

Running a country requires a combination of pragmatism and idealism. Idealism on its own usually leads to disaster for the idealist.

A shutdown coming in August will close the Washington Monument and the Smithsonian museums, leaving tourists with nothing else to do but yell at their Congressperson.

Please Congress, save us all the hassle. Give the President the authority to raise the outside the US government debt by up to 100% of GDP. Give the President the authority to authorize borrowing within the US government.Then everyone can either praise or blame the President for the debt.