...the real problem for America may well be that it does not face a short-term crisis... cost of servicing America's debt today is actually lower than it was in 1998, at the height of the Clinton boom....
... why? ... even though the US debt now is much greater, interest rates are much lower... result is a lower bill...
... the real problem is that this short-term good news means Washington isn't really acting as if it faces a crisis, no matter the rhetoric....
people are still pushing their ideologies rather than fixing the problem...
... great danger is that once again, the American economy will momentarily outperform expectations and relieve politicians from having to make hard choices about entitlements and taxes...
...but it will only postpone the day of reckoning and make the crash that much more painful.... (be wise... take the time and prepare).
For U.S. Economy, Short-Term Good News Is Bad News -- TIME
