Before the two political parties can deal on the debt ceiling - both sides need to understand that they are missing the real view of what this debate even means, or how to resolve the situation by the beginning of August.
Democrats: The debt situation in America has reached critical mass, which is why we must cut trillions from our federal budget and work towards balancing our budget before we out spend our ability to pay said debt off. Look at Greece, Ireland and Portugal for our future if circumstances do not change.
Republicans: The debt situation in America has reached critical mass, which is why we cannot allow August to roll around without raising the debt ceiling. We cannot prioritize spending when we would have to cut 40% of government spending in just one month. That approach is absolutely impossible.
This debate is bigger than politics; its simple economics.
When one has massive debts - caused by unsustainable spending - one usually cuts back on the root problem; not look for new income to justify their lavish lifestyle. The federal government should, and honestly, must do the same.
What say you?