Certainly denial can come in handy when trying to salve one's conscience, but outright, in-your-face "not our fault, but its all good" statements don't do much for my confidence level in the person making them.

Own it, Tim.  You guys screwed up BIG.

As a result of congress' failure to stand with the best hand dealt to a congress for a turnaround in a century, stocks fell apart for a week, only slowing with a slight uptick on Friday. But the reality is that its SO BAD, that even Standard and Poor waited till the weekend cycle to release what most of us understood; there is no sure thing when it comes to collecting from the US government if the debt is allowed to grow without enhanced revenues to support it.

And one might have to agree with them.

Decades of spending like a teenage girl in the mall with daddy's credit card have caught up to us.  Unrealistic promises for the entitlement system which will have to be dealt with at some point are still met with a can kicked down the road mentality.

As seen in the CATO video below, the ceiling (as presented by the media) was not the issue that was going to cause a downgrade.  It was the continued spending beyond what is coming in.  The video doesn't talk about the nature of debt as I have, that it is supposed to be transient, and temporary.  But it does a decent job explaining what congress apparently did not understand prior to its vote a week ago, that continued spending would result in higher cost to EVERYONE.

And then the downgrade came as predicted.

And in the end, a bump in a couple trillion will cost the government even more on the entire replacement of debt, as bonds are redeemed and resold.  Any increase in allowable spending will be met with the higher cost that negates the ability to spend.

And that means the president and the congress now have an even bigger problem.  Back to square one in a few months, but with even less to work with.

The negative equity in America has now been permanently primed.

Good job.

Look, I know that a few of the delegation from Michigan are freshman, and don't deserve blame for the existing problem, and in fact that was the reason they were sent to Washington. But it seems that anyone who has ever had a credit card problem, or has friends or family with same, could have figured out the remarkable similarities.  Allowing continued spending increases, when $0.43 of every $1.00 is borrowed, is immoral.  

Spending what we do not have is not owned by this president alone.  You and 7 other Michigan Republicans are letting him Mr. Walberg.  (I'll let the left talk to their own cretins)

Your "deficit reduction plan" is wordplay.  It is nothing more than a decrease in buying that $0.43 of every $1.00 worth, down to $0.42 of every $1.00.  And NOW as the debt has been downgraded from AAA, any gains you can claim, are going to be wiped out and the situation is worse.

Mr Walberg, you want to make tough decisions?  Start with each of the "alphabet agencies" and plan wholesale eliminations until there is NO deficit. EPA, MEA, BOE, BIA, etc. Then start looking at the welfare institutions, and the misappropriations of the ponzi social security money taken from folks throughout their working careers.  Drug addiction and poor life's choices are not disabilities that are worthy of the retirement monies that were supposed to be set aside as a retirement supplement.

Stand up for the people by tying this president to his desires.  Present the consequence of poor decision making with regard to credit and shame him, and as well, accept the blame for your own participation.  There is much to be learned here.

Get the Congress back to reading the constitution where the real answers are.  Those men of faith who created the most amazing document that protects free men, saw it as a gift from God.  Perhaps once again we should look at it that way.  Perhaps that is our salvation Mr. Walberg.

Congress has the ability to hold hearings on any number of things.  Perhaps on issues of constitutionality would be a good place to start, by bringing in EVERY SINGLE department of government, for a determination if they meet the test of our binding document.  If they do not meet that test clearly, then those departments must necessarily be disbanded. Such a series of events would begin to reeducate the public and those who operate it on the limitations that if adhered to, would have prevented such a trouble as we have today.

For the best America as you put it, it will take incredible courage.  Something not seen by the congress a mere week ago. Something that could have prevented a downgrade not seen in nearly a century. Something that means taking the barrage of the politically correct morons who do not understand economics.

Which is worse, hearing it from them, or hearing it from your friends who do?