As for OP, it would be horrific to have an open line of credit.
Obama and many others said (of the fiscal cliff) that we couldn't survive the tax increases, and get away without a recession. How is it feasible, then, that we keep spending what we are without raising taxes to compensate for it? Alternatively, how can we keep spending $3.5 trillion USD a year, raise $2.5 trillion in revenues, and expect things to magically get better, when our country shows very few signs of recovery?
Eventually, you have to balance the books, one way or the other. By continuing to have insane annual deficits, we're only going to visit a horrific crash down the road, and it'll only get more severe.
I wonder how everyone will like it when the day comes that the government can't make Social Security, Medicare, EBT, or other such payments, because there's no more money to borrow. The kind of recession that will bring will be more horrific than any supposed recession caused by the fiscal cliff.
Back from the dead, I'm afraid.
