batman @ 20 said:

“… there is a difference between a liquidity crisis — we don’t have the cash flow today — and a solvency crisis — we are headed toward eventual bankruptcy. By drawing all eyes to the liquidity crisis Obama and the MSM have succeeded in turning attention from the real solvency problem. Folks on this blog have not been fooled and have been pointing out that reducing the debt in 2021 to a mere $22 Trillion instead of a worse $25 trillion is not very impressive. And that assumes that the cuts will really come.”

The politicians behavior confuses me. Except for the TEA party, the politicians seem to be focused on the liquidity crisis and ignoring the solvency problem. I guess they are assuming that they’ll be out of office before the solvency problem explodes. An alternative explanation is the people on the inside have concluded that the solvency problem is intractable and only the liquidity crisis is actionable. If that explanation is true then why hasn’t the United States’ credit rating been down graded? Maybe the politicians have concluded that money printing will solve the solvency problem? Is it possible that they’re that stupid?