It is obvious that neither party has the political courage to make meaningful cuts at the federal level. To create a sustainable budget would require cuts so large that our government spending dependent economy would crater. The politicians know this, so their only remaining option is to kick the can towards the cliff. The feds quantitative easing program is in reality a technical default on our debt, and that is probably the rout we will continue down rather than an open honest default on what we can not possibly pay.
U.S. sets $223B deficit record – Washington Times: www.washingtontimes.com/news/2011/mar/7/government…-ever