The end may be beginning

Some ominous economic headlines today following last night's U.S. downgrade by S&P.

Here's just a couple:

It seems China grows impatient with mounting U.S. debt.

Harry Reid wants to exploit the crisis of the U.S. credit downgrade as an excuse to raise taxes.

And here's a flashback from April:

Treasury Secretary Timmy Geithner promised in April there was no chance of a U.S. credit downgrade.

We've moved into uncharted territory. And promises from Washington sound increasingly hollow.

Real cuts to federal spending in the recent Congressional debt deal could have averted the downgrade and the fallout we're about to see.

Instead, it looks like the politicians deliberately delivered another calculated crisis to exploit.