America reached two dubious milestones in recent weeks.
Our national debt, including Social Security obligations, has run up to nearly $14 trillion. That's a lot of money, even in Washington.
And our Treasury Secretary started using the d-word. Writing to congressional leaders, Timothy Geithner warned that failing to increase America's debt ceiling, currently $14.3 trillion, "would precipitate a default by the United States."
Geithner does have some options to cover cash flow while politicians argue, but in the end there is a list of politically explosive payments that might not be paid due to lack of funding. Social Security payments and payments to military personnel are the most explosive, with payments for medical care following right behind.
This might be interesting to follow if it can be played out without causing damage to the country, or to Americans. Would give the Tea Party a chance to demonstrate just how effective their approach to government really is, and the GOP the opportunity to show if they have returned to the days of responsible management.