"We are almost out of time" for a compromise, warned President Barack Obama as U.S. financial markets trembled ...
...So many want to have a two party government in Singapore. Personally, I always say that if something is not broken, don't fix it. Seeing how the two parties in the US government are acting, I am thankful Singapore is not on the same boat.
With National Day just round the corner, a week after the 2 August deadline for the US to raise its debt ceiling, I am counting our blessings. We never know we have a good thing until we have lost it. Let's not lose it.
Latest update on the US situation:
In an unforgiving display of partisanship, the Republican-controlled House approved emergency legislation Friday night to avoid an unprecedented government default and Senate Democrats scuttled it less than two hours later in hopes of a better deal.