Warning signs

Let me be clear about this: Today's DC political events continue to be a diversion from the really important actions that must be done. This is hurting the country.

Ultimately, and despite whatever Congress decides to do on the budget and the debt ceiling, there is no hope for long-term reduction of the Federal debt without economic growth.

You saw my comments yesterday about our nation's economic growth. And perhaps you saw or heard this morning's GDP reports convey this message: The recent recession was worse than we thought it was, and the recovery from that recession--especially in the first half of this year--has been weaker than expected, and weaker than prior reports had indicated.

Needed: rational actions in DC to support growth

From my perspective the current acrimony in Congress over raising the debt ceiling and structuring an affordable Federal budget has plenty of irrationality about it.

There's plenty of blame to go around everywhere on this: the House of Representatives, the Senate, the Administration, the Democrats, the Republicans and the so-called Independents and Decline-to-States all deserve a share. With that said, I'm going to avoid partisanship for the moment and try to substitute with rationality and logic.