Government Shutdown Careens Toward Oct. 17 U.S. Debt Blowout

Government Shutdown Careens Toward Oct. 17 U.S. Debt Blowout

by Dennis Small

Other than LaRouche PAC, no signs of sanity have emerged in Washington, D.C. over the last 24 hours on the government shutdown. If anything, the two sides are more entrenched, reaching new heights of sophistry, and with no serious discussion of economic policy underway. Moreover, the shutdown crisis, now in its second day, is currently leading seamlessly towards a U.S. government default crisis as early as Oct. 17, when the debt ceiling will be reached. Judging by his actions, President Obama seems perfectly content to let the shutdown continue, and to bring on a default as well.But, as Lyndon LaRouche emphasized in discussions on Tuesday evening, this is not simply a budgetary crisis, or a debt crisis, or a political crisis. "It's inherently a breakdown crisis. There is no way this is going to be solved in a normal sense." The only "easy" solution is to implement LaRouche's full Glass-Steagall program, to pave the way towards a global renaissance around a fusion economy. Nothing else will work.

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