Fear in financial markets is obviously not a good recipe for stable financial activity. Investors are understandably concerned by the possibility of debt defaults by the government and the negative impacts that would occur. Senior citizens are fearful that they will not be receiving their monthly social security checks. Fear needs to be eliminated to insure a stable financial system going forward.
The national debt problem must be addressed. The current national debt did not occur overnight and a quick fix will not be available. A reasonable plan to reduce the national debt over a period of time should be attainable. The eyes of the nation and the world will be watching Congress and our President on this debt ceiling/debt reduction issue. Hopefully our leaders in Washington will choose diplomacy and create a solution to our nation’s debt problem.