Agreement on debt just start

The deal reached between President Biden and House Speaker Kevin McCarthy to increase our nation’s debt limit was a welcome compromise. It appears to avert our nation’s defaulting on our financial responsibilities and is a step toward bringing government spending under control. However, it is just a start; and the hurdles ahead are much higher.

While the federal government operates differently than a family or business, people are starting to realize that if our nation defaults on its liabilities, everyone in America is stuck with a $95,000 bill. It is worse for taxpayers. Their share is $248,...