Will the world throw the US a life preserver ??

[kentuck]

Today, they will vote to increase debt limit by $800 billion dollars.
That should get us right up to the elections in 2006. At least, that is what the Repubs hope. But they may fall a few months short of their goal, considering the madman way they have been spending money for the last few years.

Where does this $800 billion come from? Will the Chinese continue to purchase it? What if they don't ? Do we simply print it and inflate the money supply - too much money chasing too few goods? It all looks so simple and easy. Just increase the debt limit. But will it be so easy this time?

[sui generis]

1. there is no free lunch

and we already know what the bill is going to be for this one . . .

[Newsjock]

2. It's time for the world to stage an *intervention*

... against the USA. Call it tough love, call it whatever you will, but we have clearly shown that we are unable/unwilling to put our house back in order. And as much as we'd like to think otherwise, the rest of the world really does need us.

[DBoon]

4. We'd be an IMF "basket case"

if we weren't the USA. Any other country would be owned outright by its creditors.

[Fovea]

3. Life preserver?

No, but I think the have a concrete block in their canoe.

[cliss]

5. No, and thanks for bringing this up kentuck.

We are now the 'Persona non grata' around the world. We are now the object of much hatred percolating around in many brains, around the world. A black cat crosses a man's path in Provence. "Those Americans", he thinks.

In Barcelona, a family at the beach sees a light trace of oil laying on the sand. They glance out toward the horizon. "It's those Americans", they all agree and curse us once more.

In Lapland, a reindeer falls down, feeling sick. The owner turns his snow scooter around to take a look at the animal. He just knows, in his mind, that we've done something to his poor reindeer.

The point is, we're going to get the blame for everything that happens from here on out, whether it's our fault or not. And what we've done that are legitimately our own fault, is plenty.

I like to think of the Aesop's Fable about the Lion and the Mouse. The lion catches the mouse. The mouse pleads for his life and promises to help the lion someday. The lion laughs.

Not too much later, the lion gets caught in a net by a hunter. Guess who appears to save the day? The little mouse gnaws through the net and lets the lion free.

Someday, we might need some small countries to bail us out (hard to imagine, isn't it George?) when we're in dire trouble. Guess what they'll say?