Keep an eye on what's happening in Greece. The only difference in the way their government ran things and the U.S. is that they're 2-3 years ahead of us in financing their spending with debt. That and it looks like they're beholden to Germany and France, while we'll be doing what the Chinese demand of us. Greece has already virtually stopped any public spending on anything other than debt service and the most fundamental government spending. Read the third from last paragraph in the article below to understand the types of things Germany and France are demanding of them to keep their country afloat.

Say what you wish about Republicans, Democrats, liberals, conservatives, even socialists...unless our Congress and the administration begin to act together to solve the financial problems facing us, we'll be facing the same types of "solutions" as Greece. When the Chinese begin to make demands, they will not be interested in any of the varying idealology, absence of fiscal discipline or any of our economic beliefs that got us to this point. All they will be interested in is getting their loans to us repaid. And we won't like their demands one little bit.

Here's an article from today's Wall Street Journal Online. I'm cutting and pasting it here because, if you haven't registered with the WSJ, you would not be able to navigate to the link and read the article. If you are registered, here's the link to the article...

http://online.wsj.com/article/SB1000..._LEFTWhatsNews..