us default looms larger, page-7

The sad thing is, even if a debt ceiling deal is reached by August 2 to avert technical default, US debt will still be downgraded, meaning interest costs will go to about $1 trillion a year or worse from $400 billion now.

The American Empire is mortally wounded. It's just a question of when it faces reality and admits, we blew it badly.

The Empire can start a rearguard action now. A good start would be to slash its obscene military budget used to bomb peasants and their children back into the Stone Age in the War of Terror.

The money could be used to make things useful to people, creating millions of jobs.