US might become illiquid and insolvent

The pass of US pulbic debt ceiling increase only serves as a temporary pain killer, which cannot reverse the trend that US is becoming illiquid and insolvent.  Personally, I believe 30% of the public debt should be the ceiling, if the tax rate is 30%, which means the government spends under how much they can earn. Look at the lavish money burners like Japan and US.  Shocking!  I wonder why they spend so much? Where is the money going?





   

      It is said the debt ratio of some provinces in China also reaches 70%, which is not pretty.  We should take more caution to that. 

     What we can take away is US economy will not get out of the woods in the foreseeable future.  The government must deleverage and the gold price will keep rising.