With the upcoming August 2nd deadline it makes one wonder if a resolution is even possible. The polarization of the debt discussions is disenchanting an extremely important issue. In a recent article from The Economist “Dicing with Debt and the Future” the fundamental philosophies of the opposing arguments could be seriously�compromised��on both ends on a decision is made. The article asserts:

…both sides have made a stand on principles that will be hard to abandon without losing face. The Republicans� is that there can be no increase in tax revenues, because that is how public spending ratchets ever higher. The Democrats� is that a deal that reduces the deficit by spending cuts alone would fall too heavily on the most vulnerable Americans.

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A recent poll showed that raising the debt ceiling continues to be unpopular among Americans. View poll results here. While economists such as Emily Skarbek may give�eloquent�and comprehensive solutions to this issue, the debate still remains. For the sake of future generations a decision must be made, and for all our sake one can only hope that it is a decision that will not put us FURTHER into debt.