If the US cannot pay its own bills, how can it guarantee Israel's? Seems to me like a simple question but few are asking it. Raising the ceiling without serious plans to increase revenues and pay down the deficit (which seems to be the substance of the compromise being worked out in Washington right now) will not disguise the fact that the US is borrowing and getting deeper in debt to pay its bills.
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Heat wave due to hit Israel on Sunday (Haaretz)
from the article: U.S. report recommends ending loan guarantees to Israel at end of 2011