What Would Winston Churchill Say About America's Debt?

There’s some light at the end of the tunnel. Just a thin ray, and at the end of a very long tunnel littered with government and private debt.

It just might be that the battles now going on in Congress about this year’s budget will prove to be a sideshow. After all, the difference between the Republicans’ insistence on $60 billion in spending cuts, and the Democrats’ offer of $10 billion is about 1% of the $3.8 trillion budget, a rounding error in the long-term budget outlook.