Commentary
“Debts and lies are generally mixed together,” said Francois Rabaleis.
It was true 500 years ago when he said it and it has never been more true now. People hide their debts because they reveal a great deal of stupidity, profligacy, and miscalculation. Certainly that is true in personal finance.
It is even more true in government finance.
For that reason, it would be completely understandable and justified if you have tuned out the debt-ceiling debate currently burning up every energy in Washington, D.C. We all understand the terms. The goal of the Democrats is to get Congress to authorize more out-of-control spending. The goal of the Republicans is to authorize an increase in the debt while pretending to have forced a more frugal compromise….