Didn’t we just do this? Yes, of course, our country just went through this debt ceiling debacle and nothing has changed. We’re not in a better position to take on debt, our economy is still on the brink of collapse and no one seems to be interested in doing anything about it (perhaps except Ron Paul). We’re not proud collective owners of a debt obligation bigger than annual GDP.

The latest outcry and talking point is that if the debt ceiling isn’t raise (AGAIN), everyone’s going to lose their jobs. As is reported:

Democrats cry that some 825,000 non-essential government employees will not get paid if the debt ceiling is not raised.

But of course, that’s the problem: the government is taking money from entrepreneurs and hard working Americans and giving it to non-essential employees.

What we need in Washington isn’t status quo. We need a Constitutional Amendment requiring Congress to balance the budget. Nothing else will work to keep these absolutely reckless politicians from ruining the economy of the country. Of course, when the partisan Republicans passed a balanced budget amendment in the House, the partisan Democrats rejected it out of hand.

Compromise is a four letter word in Washington and this debt deal is no exception. Look for a continued decline in the economy and possibly economic Armageddon when the world economic community drops the dollar as the reserve currency.

Here’s a great interview from a great talk show host with a great congressman summarizing this issue:

[youtube=http://www.youtube.com/watch?v=_d0gcfn2Ap4]