Rudi Giuliani's predicted Solution to the Debt Crisis

I was listening to Rudi Giuliani's prediction for the end of the debt crisis last night. He said that what would have to emerge would be a compromise where the Republicans would have to allow the Democrats the Debt Ceiling raised until 2013 past the Presidential Elections and the Democrats would have to allow there to be no new taxes. Only with this compromise would both Democrats and Republicans have any hope at all to agree to a new Debt Ceiling Compromise that could actually pass both the House of Representatives and the Senate and to have any hope at all to be signed into law by the President by Tuesday. But until then likely both House and Senate will be in session until it gets done.

Another point to understand is that right now the U.S. Government has less cash on hand than Apple Computer. The U.S. government right now has 74 Billion dollars and Apple has 76 Billion dollars and no money can be borrowed by the U.S. Government until this thing gets passed. The most likely not to get checks for at least one month or more if this gets put off any more is Social Security and Medicare recipients and the least likely to not get their checks are military and disabled Veterans. However, all debt to banks and foreign banks and countries has to be paid before citizens in order that our whole world banking system doesn't collapse. The same is true in regard to treasuries etc.

The likelihood that some solution will be found like a bandaide by Tuesday I think at this point might be approaching now 100%. However, a more permanent (as in until 2013) solution might be one or more months away. However, in the meantime the whole world might suffer like never before since the Great Depression and World War II if this goes on much longer.