People are happy "progress" is being made on the Debt Crisis. It's not progress. No real cuts, just smoke and mirrors. They will slap one another on the back and proclaim victory. Some compare this to Argentina in the 90s. It's not; IF the US Defaults (and it will) there is no one big enough to help. It will drag the world into deep economic woes. No one is pointing out the King's new Clothes don't exist.

Argentine debt restructuring - Wikipedia, the free encyclopedia

Argentina went through an economic crisis beginning in the mid-1990s, with full recession between 1999 and 2002; though it is debatable whether this crisis has ended, the situation has been more stable, and improving, since 2003. (See Economy of Argentina for an overview.)