Well folks, the proverbial snowball is going to continue to keep 
rolling down the mountain. With the debt ceiling agreement deadline 
looming, it looks like the Senate Democratic leader Harry Reid along 
with President Barack Obama have finally caved, and have agreed, along 
with the Senate Republicans to raise the US debt ceiling $3 trillion 
dollars. This deal, if approved, is expected to extend through 2012-a 
presidential election year. If you are counting, and I can't blame you 
if you aren't-I have never had to use trillion in any form when I 
balance my checkbook, that would increase our national debt from $14.3 
trillion to $17.3 trillion. Whew! Boy am I relieved!
The
 good news is we can put to rest the talk of not sending out social 
security checks as well as paying U.S. troops. Medicare for senior 
citizens will likely not be affected. Now, interest rates will not go up
 and the dollar will not be devalued any further. I wonder how much 
further it can be devalued? The stock market will likely not plunge. 
Heck, there might even still be money available in the form of grants 
and loans for Americans if they want to go to school and get educated. 
Of course there are no guarantees that social security checks will be 
mailed out on time. Or, guarantees that any other negative effects that 
might be felt by the debt crisis will not happen. No my friends, 
guarantees are pre-election material. This is not the time for hope and 
change. Well, maybe spare change.
The bad news is the US national 
debt would now be at a stout $17.3 trillion. The senate vote was 50-49 
in favor of the increased debt ceiling. That means about half of our 
elected officials in Washington, D.C. actually don't know how many 
zero's are in a trillion. And there are 17.3 to account for. A 
government default has been avoided....for now. For years our elected 
politicians have proved they have no idea how to balance a budget. Of 
course if you have someone's else's money to budget with, it really 
doesn't matter if it balances or not. What is going to change moving 
forward in the hearts, minds, and souls of our government officials that
 will allow the start of debt reduction?
This proposed deal, 
expected to be finalized on Monday, also includes a two step process 
that would eliminate approximately $2.4 to $3 trillion in debt. How is 
this going to be done? The first step would be to eliminate $1 trillion 
through spending cuts. Additional deficit reduction would involve cuts 
to Social Security and Medicare. A special committee of Democrats and 
Republicans would work together on this debt reduction which would also 
include tax reform. Long story short-the thrifty spenders on Capitol 
Hill would like to put a band-aid on a bullet wound. Let's hope 
otherwise and pray that a paycheck and proper medical attention can be 
afforded for not only our invaluable troops but all American citizens.
Democrats
 and Republicans working together to solve perhaps our nation's biggest 
problem. Wow! I hope you live in the sunbelt because the snowball is 
getting bigger and moving faster and you still have a chance of it 
melting a little before it reaches you.