Tick, tick. August 2nd is the Debt Limit Armageddon. Or Not.

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The solution should, appropriately, be more focused on restoring economic activity (as opposed to extended payments to people for not working) in the short term than in extracting further taxes from a stagnant economy that is also being hobbled by expanded government regulation.

And your proposal to do this is what?

Reducing government spending isn't going to increase the economy.

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No. I believe that unless we alter entitlements, particularly including SS and Medicare we will have a demographically unsustainable burden on our economy - very much as Europe is facing today (though generally less severe).

Something that isn't a problem for almost 20 years unless we don't raise taxes to pay off the trust funds.

These problems require more than the self-serving and static arithmetic you appear to favor. I do recognize your inclination to change the question as the conversation takes unfavorable (to you) turns.

That an interesting and wholly unsubstantiuated argument that flies in the face of numerous very analogous historical examples, ranging from the Thatcher correction in the UK to the very recent reduction in the government's share of the economy in Canada

DJIA futures down over 100 points Sunday night

WASHINGTON (MarketWatch) -- In thin electronic trade Sunday night, U.S. stock futures were down by nearly 1% as U.S. lawmakers failed to reach agreement on a plan to raise the $14.3 trillion debt ceiling. Dow Jones Industrial Average futures fell 114 points, or 0.9%, and S&P 500 futures also declined by 0.9%. Gold futures rose by $14.30 to $1,615.80 an ounce.

When the markets open tomorrow morning, it's going to be a slaughter house. Hang onto your cash.

NEW YORK (AP) -- This month may be the slowest in the stock market in more than three years.

Trading volume, or the number of shares bought and sold, is down because there are fewer big investors buying stocks. And those who want to buy are worried about the job market and the European debt crisis -- and the budget impasse in Washington. If Congress and the White House don't agree on budget cuts and raising the government's borrowing limit, the U.S. is at risk of defaulting on its debt after Aug. 2.

Daily volume on the New York Stock Exchange is down 22 percent so far in July compared with the same period in 2010, according to data provider FactSet. About 3.7 billion shares have traded hands every day on average, down from 4.7 billion in July last year.

If that continues, July will have the lowest average daily trading volume since December 2007, says Patrick O'Shaughnessy, a research analyst at Raymond James.

Low volume is worrisome because it suggests that few investors are driving the stock market's gains or losses. That creates the risk for bigger price swings. When, for example, there are few buyers, someone trying to sell a stock may be forced to keep lowering the price in hopes that someone will want it -- the same as a homeowner who can't find a buyer for a house.

A lack of volume also indicates that some investors don't believe that stocks are worth buying right now.

"Volume in many respects represents conviction," says Jack Ablin, chief investment officer at Harris Private Bank. "And there's just very little conviction

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These problems require more than the self-serving and static arithmetic you appear to favor. I do recognize your inclination to change the question as the conversation takes unfavorable (to you) turns.

Without the arithmetic you will never balance the budget. Balancing the budget REQUIRES arithmetic.

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That an interesting and wholly unsubstantiuated argument that flies in the face of numerous very analogous historical examples, ranging from the Thatcher correction in the UK to the very recent reduction in the government's share of the economy in Canada

Do you have a source showing Thatcher reduced government spending at a time of recession and the economy took off?

I would point you to the 1937 - 39 time period in the US when government deficit spending was reduced and the economy stagnated.

I could easily find one, but life is far too short for me to assume responsibility for the basic education of one so stubborn and mindlessly pedantic as you.

Be prepared for armageddon.

When the markets open tomorrow morning, it's going to be a slaughter house. Hang onto your cash.

I moved to 40% cash a week ago since I had no faith in them reaching a deal. I figured the small gains if they did make a deal was worth the risk compared to the possible loses.