LET'S NOT FORGET – AT 10:08 P.M. ET:  Our eyes are on Libya and Japan, but we have some pretty serious headaches right here at home.  From CNBC:

The United States is on a fiscal path towards insolvency and policymakers are at a "tipping point," a Federal Reserve official said on Tuesday.

"If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt. "The short-term negotiations are very important, I look at this as a tipping point."

But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.

"I think we are at the beginning of the process and it's going to be very painful," he added.

COMMENT:  The federal budget is being debated in Congress right now, and President Obama is showing his usual lack of leadership. 

We are told that we're in a recovery, but it's hard to see where that recovery is.  Unemployment is still high.  The housing market is swimming with the fishes.  Fuel prices, which Americans see every day, are soaring, while chic environmentalists tell us that's a good thing. 

One of these days, a foreign crisis will erupt and America just won't have the money to deal with it.  The world is becoming less, not more, stable, and we are becoming weaker and less resolute under our current leadership.  The next election will be one of the most critical in this nation's recent history.

March 22, 2011