The new movie Source Code ( Rotten Tomatoes rated: 90%) features  a train-wreck that is repeated over and over while the hero looks to save innocent victims.

In Washington last week an economic train wreck was avoided when a suicidal government shutdown was avoided.

But for those of you who enjoy the anticipation of train-wrecks, there is more fun to come!

The current approved budget only lasts us only till September!

And if the previews are accurate, this next round of negotiations should be just as contentious, if not more, than the last.

True, the economy is gradually recovering.   Statistics show output is increasing, and job creation has risen for each of the last 3 months.

But the national debt is still a staggering 14 trillion dollars (That’s trillion with a “T”).

Battling this deficit is the new obsession in Washington.

Obama’s proposed his budget for the 2012 fiscal year a few months ago. You can view it here

Some of the highlights (and major points of conflict for the Republican camp)

• cut  $4 trillion over the next 12 years from the total deficit (Not enough for the G.O.P)
• A call to raise the US’s debt ceiling, which is currently at $14.3 trillion (absurd to the G.O.P)
• Reforms to Medicaid and Medicare that will result in spending reductions (Not enough for the G.O.P)
• Ending tax breaks for the rich (those with annual earnings higher than $250,000) to increase revenue  (Anathema to the G.O.P)

Meanwhile, Republicans have their own plan.

Named “The Path to Prosperity”, it entails a $6.2 trillion reduction in the total national debt.

That proposal was passed in the House today.

Is another economic train wreck in the making? Rotten Tomatoes will likely rate those chances at 100%.