The fiasco in Washington over the partial government shutdown, raising the debt ceiling and deepening animosity between Republicans and Democrats (and Republicans and Republicans), has left many asking if there is any way out of this bitter, endless cycle. There may be.
The Financial Times recently suggested that America’s largest foreign creditor — China — might want to reduce the size of its loans financing our debt. China, which holds 8 percent, or $1.5 trillion, in U.S. Treasury securities, is mocking our inability to reduce debt.
Thomas is a columnist for Tribune Content Agency.