U.S. economy caught in 'debt and austerity trap' 

Money trap image via Shutterstock.com.

There's very little real news this week, with markets lurching to no account, and trading so thin that the landing of a snowflake avalanched 300 points of Dow. Uphill.

The issue at hand: the debt and austerity trap. We must stop borrowing, but to stop we must cut spending or raise revenue, or both. If we do that, and our economy -- or the ones overseas -- slow down, then we will have less tax revenue and more need, or wishes, for spending.

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