Look at it this way, we had a big party, everyone got drunk, everyone got laid and we messed up the venue. In the morning the Hotelier presented the bill and we were lacking. Now is the time of pain and paying, in economics we call it deleveraging.
Even if the government would become instantly rational and develope a plan to pay our debts, personal and business debts would remain. We are doomed to a lengthy period of deleveraging.
Kruger wants us to spend more money, the republicans demand austerity. Both are dead worng. It will take a miracle or a catastrophe to turn us around but we can manage debt with minimal sacrifice, cooperation and clear thinking. What is the point of insane idelology that benefits no one. Congress should resign and be replaced with a collateral body.
It will take strong measures, tax increases, mutual sacrifice, invention, investment and growth. If government gridlocks, business continues to sit on cash and we continue to print money and borrow our way to mock prosperity we are just as sunk as Europe.
The only answer would be world default, the creditor nations win. Hu Ching Bush is the president and we transmorgrify into a top down pseudocapitalistic state. It might be good. Take care of the needy. Execute the thieves. Brew another revolution.