[Vince Ferrer]

Another proposal being floated is (although less likely) is to give President Obama the authority to raise the debt ceiling at his discretion, subject to a resolution of disapproval that would have to pass both houses of congress. Such a resolution would be a kabuki dance, passing in the House and failing in the Senate.

Why the new-found willingness to acquiesce in new debt?

Credible sources here in Washington have shared a chilling back-story that took place involving the President and congressional leaders of both parties as the clock ticked down to the Treasury running out of cash earlier last month. It seems that more than one creditor nation, led by the Chinese, indirectly telegraphed a willingness to take very draconian measures in response to a ‘debt default’ – apparently even if coupon payments were made on outstanding debt owed to them. Those measures were set to go way beyond being financial, and were said to be credible in nature.

At least one senior Republican scoffed at the threat, but relented when briefed by (at least nominally) non-political figures in the national security community. That explains why, in part, the whole stand-off ended with a whimper and not a bang.

The implication? The country is far deeper down the rabbit hole of debt than most fathom. The current paradigm has moved one step closer to the end game. We are no longer masters of our own fate.

From: Another Debt Showdown coming in Washington next year? Don’t bet on it.

[Cringing Negativism Network]

Go in any store in America.

Pick up the item, on any shelf.

You will find a “Made in China” sticker.

We need to bring back American jobs. Now.