In an earlier post on the debt ceiling, I asked if you could recall where you were when a “sentinel event” such as the bombing of Perl Harbor, assassination of JFK or the terrorist attacks of 9-11 occurred. These incidents had a profound effect on life in America, for both our national psyche and for each of us personally. On August 2, 2011, without any significant cuts in the level of federal spending, the Senate voted by a wide margin in favor of a bill already passed by the House to raise the debt ceiling. A modern day sentinel event...