The United States Congress (namely the Republican members) have come together and stated that they will raise the debt ceiling to avoid any crisis. After Republicans and Democrats have consistently been going back and forth with no "wiggle room" for compromise the time has finally come to raise the debt ceiling. A failure to raise the debt ceiling would result in the government being unable to spend more money that they do not have, and being forced into climbing out of the debt they have gotten into. While raising the debt ceiling will prevent catastrophe in the short term, the long-term has some real problems in store for the United States and other debt-ridden countries.

This habit of spending money that does not exist has given the US a blank check with which it has bankrupted itself. Currently, there is no end in sight for the debt addled US and other Western countries. While it might be hard to remember, at one point the United States was not in debt, and in fact had a surplus. This is something that many Americans are demanding the country be brought back to as soon as possible.

This is why there has been so much dispute over the current US government fiscal budget. China and other nations heavily invested in the United States are not interested in any more excuses they are only interested in results. A deficit that continues to bloom at an exponential rate will not be good for the USD on the online forex echange. There is a lot of debate as to whether or not the United States should just go ahead and swallow the bitter pill in order to avoid the trouble waiting for them in bankruptcy. The United States must be willing to truly change in order to climb out of debt anytime soon.