The debt limit is about to be crossed by the U.S. government at which time, we can no longer continue borrowing money, at least legally, to fund our addiction to large government spending. Indirectly, that will probably curtail all debt creation and life as we know it in the U.S. and world financial markets.

We are addicted to spending and not paying for it in Congress. Debt payments will soon exceed military spending, and everyone recognizes our military spending is huge. With military spending, we at least get something for it. What do we get for most of our debt ... we get to spend without paying for it. Even more, we get to spend without reaching a consensus between the two parties. We get to spend without compromising with each other on what is most important.

Both parties are to blame. We can support incompetence in Congress by blessing the actions of either side. Both parties are responsible for he mess we are end and can not be forgiven until they sit down, do their job, and reach a compromise with the other side.