We didn't want to “pile on” you yesterday as you paid your taxes.  So we waited until today to talk about the Standard and Poor’s lowering of its long-term outlook for our ability to continue paying back the money we’re borrowing from the rest of the world.

Congratulations, America and the politicians whom we elect. 

We now are second only to Japan (for obvious reasons) of all developed nations having a negative watch on our debt.

Think that this doesn’t matter?

Well, think again.

Unless we stop the fiscal madness, it is going to cost the U.S. more money to borrow money to pay for all the reckless spending. 

Interest rates will have to rise for ALL of us because, quite frankly, like an over-indebted consumer, the lower the credit score, the more it will cost to borrow.

S&P is saying that it finds it highly unlikely that Congress and the White House will really stop increasing the spending before the 2012 elections.

The White House mistakenly thinks that we can continue doing what we’re doing by paying for it off on the backs of the “wealthy.”  The facts lay lie to that belief. 

And, isn’t it interesting that 47% of Americans polled say “yes” to increasing taxes on the wealthy while 47% of Americans paid NO FEDERAL INCOME TAXES last year.                                                                                                                                                                                                                                                  

What a coincidence!

If we don't do something about Medicare, Medicaid and Social Security (the undeniable drivers of most of the budget costs), then don’t be surprised to find economic growth continuing to lag and even worsen.

Interest rates on money you borrow for houses, cars and college costs to become even more unaffordable for many and taxes for the middle class to “necessarily skyrocket,” to paraphrase the President.

There isn’t enough money to tax the richest 10% of the population to keep this daisy chain operational. 

Any good bank robber knows that you rob banks because “that’s where the money is.” 

And the federal government knows that to keep spending, it will also have to go to where the money is.

So, Middle Class, get ready to have YOUR pockets picked if we don't do something about entitlements because THAT’S WHERE THE MONEY IS.