Thanks to its masterful monetary policy, the Federal Reserve has given Congress a great window of opportunity to get its fiscal house in order.

The U.S. Congress has ignored the budget deficit for decades. Debt investors have almost run out of patience. Will Congress address the problem—or continue to play for time?

More and more finance experts express worry about the U.S. government’s debt. Only Congress can prevent a fiscal crisis, but time is running out—fast.

The U.S. government now borrows 35 cents of every dollar it spends. Congress, meanwhile, is busy trying to keep the offices of the federal government open.

The German government again suspends its debt brake. So far, their country has been saved by its formidable export machine. Those days are gone.

The latest report on the U.S. government’s credit worthiness is nothing short of fiscal and political dynamite. It should put Congress and President Biden on full alert.

There is this notion that America will never face a fiscal crisis of the kind other countries have fallen victim to. This notion is dead wrong. Here is what an American fiscal crisis can look like.

We will only get one chance to save America from the abyss of a debt crisis. Let us make sure we get it right on day one.

Democrats and Republicans are bickering over the debt ceiling. They will reach an agreement before the June 1st “default” date, but it will only be a stopgap measure. At some point, Congress will face such high costs for its debt that not even the most optimistic investors can trust the U.S. Treasury any longer.

While Americans are worried about mental health, election fraud, and government debt, Europeans think that the most important things in America are abortion pills and ice hockey.

There are growing signs that the United States is heading for a Greek-style fiscal crisis. It is not imminent, but close enough to cause real worries for anyone interested in the U.S. economy.

Every government with debt on hand, and especially those with debt levels that are already unsustainable, must get to work on a contingency plan for the coming recession.