Last week the U.S. government ended its budget crisis and avoided defaulting on its debt, but this much needed reprieve will be short lived. While the U.S. Congress finally passed a bill to reopen the government and raise the U.S Treasury’s debt ceiling, it only gave the U.S. government enough money to stay open until January 15, 2014, and only gave the Treasury enough breathing room to keep borrowing until February 7, 2014. Instead of being a lasting resolution, this latest development was just a pause in the action, like the time keeper’s bell going off in the middle round of an eighteen-round fight. Republicans and Democrats merely returned to their corners, where they now wait to be called out for their next round of budgetary brinkmanship. I […]

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