I think it is time for the US congress to take some responsibility in the real sense. The following may help to keep them in the track for the benefits of American people.
1. The amount they can use from the political donation they receive is tied to their approval ratings. The lobbyists can send money to Washington but the money should be first received as a fiscal revenue for American people.
2. Deduct the percentage of interest payment on US debt as a fraction of the federal fiscal revenue from their salary.
3. The pork brought home by the senators/congressmen-women should not exceed 120% of the federal revenue from that state.
Magnus: China Must Reform or Bust - China's debt markets are looking more and more like the West, circa 2007. And it's not clear the government can intervene as successfully.
1 hour ago