How the shutdown fight is hiding America’s pending financial crisis

KEY POINTS

Congress lacks "political will" to address nation's coming debt crisis, Rep. Kennedy said.

Reforms to Social Security and Medicare are necessary to curb deficit spending.

Failure to fix national debt could diminish average income by $5,500 or more by 2054.

As Congress battles over a three-week extension to the federal budget, the United States is barreling toward a long-term fiscal crisis that lawmakers appear reluctant to address.

The U.S. national debt surpassed $38 trillion on Oct. 23, just two months after hitting $37 trillion, with the country on track to soon spend more on interest payments than on any other budget item.

Speaking after the Senate’s 14th failed vote to reopen the government on Monday, Utah Rep. Mike Kennedy said Washington, D.C., is not focused on r