US Default Looms - What Would Default Look Like

US Default Looms! So, what would default look like if the congressional team can't come to some kind of resolution? With the government shut down and worries spreading across the United States about the future, word about the US going into default, we need to understand exactly what that means and why it can be very damaging to our economic standing in the world.

If the debt ceiling isn't raised, which the GOP leader and President said isn't an option, the country will surely dip into this unsure territory. But what is the real issue that caused the government shutdown and how can it be corrected?

The only way to correct the problem within the government is to draft and approve a working budget for the country, period. The shutdown is not because of Democrats or Republicans or Obamacare, it's because the country has no budget to go by that is approved by the President, the Senate, and Congress. Bob Corker PolitiFact.com said in a 9-22-12 The Truth-O-Meter Says article, "For fiscal year 2003, the Senate, under Democratic control in 2002, failed to pass a budget resolution of any kind. For fiscal years 1999, 2005 and 2007, the House and the Senate failed to reconcile their different bills and pass a compromise measure. In these latter three cases, the Republicans were in the majority in both chambers of Congress."

This statement alone says it's not a political party problem because both Democrats and Republicans can't seem to come up with a good budget. The clear problem is that the United States simply has too much debt and they have lost control of their ability to manage it.

So, what would default look like? Why can't the US seem to balance it's budget?

Read the article What Would Default Look Like from Yahoo news to get a good idea about what will transpire if the Government falls into default.

Health Care Treated Like Car Insurance?

There's talk on the street that the ever popular health care is going to be treated like car insurance by some United States firms. What exactly does that mean?

What are they going to do, raise your rates if you get sick or hurt just like car insurance companies do when you get in an accident?

Not exactly. But health care providers don't generally reward its premium holders with cheaper rates when they remain healthy. Should they?

Read more on how "Some U.S. Firms Start to Treat Health Insurance Like Car Insurance on Fox Business News.