President Obama unveils his deficit plan: We can only pay our bills if others will continue to lend us $125 billion a month

I'm paraphrasing of course.

The President has yet to release a spending plan. Senate Democrats have yet to release a spending plan.

The real reason Democrats have refused to publish a budget for 815 days is this: they know that the rating agencies will downgrade the U.S. if they reveal their plans to continue spending like drunken liberals.

A downgrade is likely no matter what comes out of current negotiations. Specifically, Standard and Poor's has indicated a $4 trillion deficit reduction package is necessary by Aug. 2 to avoid a downgrade...That simply is not possible given the president's aversion to genuine spending cuts -- evidenced by his failure to table concrete spending cut proposals -- and the insistence on no new taxes by many members of the Republican House caucus.

Stand strong, Speaker Boehner: the House of Representatives has done its job:

• The Republicans passed a plan that avoids a downgrade by the rating agencies while raising the debt ceiling.

• The Republicans passed the 2012 Ryan budget that saves the dying entitlement programs.

Any economic spasms felt as a result of this reckless spending is the fault of three people: Barack Obama, Nancy Pelosi and Harry Reid, who piled more debt on the backs of the American people than any President and any Congress in history.

And 2012 is coming.