It is important to recognize the misinformation coming from the Obama White House. First, he threatened Social Security payments if the GOP doesn't cave into his agenda by raising taxes in an ongoing job recession. What happened to the trust fund? Is the lockbox the Democrats are always selling just another Madoff scam? Second, now he is talking about default, which likewise is not happening yet (but could, if we continue to spend and spend). Around $200 billion of tax revenues come in every month, so it's just not true.

So what to do? In the short term, a 1 to 1 spending cut for a debt limit increase. Not in the future, but now.

Remember, we only control 1/3 of government and cannot drive our vision completely yet.

My old friend Grover Norquist of Americans for Tax Reform is off base in opposing the defunding of the corn ethanol subsidy unless other federal taxes are cut.

Sorry Grover, cutting wasteful spending in the form of eliminating unnecessary tax breaks is not raising taxes.

TCR Comment: It's time for the flat tax, eliminating deductions and lowering income tax rates.

Despite winning every public vote on the issue of gay marriage, the legalization campaign is making state-by-state progress with New York being the latest to join. What is the future for states that still say no?

The answer comes to us from social conservative, Governor Rick Perry, who last weekend said in commenting on this matter, "That's New York and that's their business and that's fine with me ... If you believe in the 10th Amendment, stay out of their business."

TCR Comment: If full faith and credit is followed, gay marriage will, in the not so distant future, be recognized everywhere. One thing you can say about Governor Perry is that he is consistent on states' rights. Of course, if he is correct, the traditional family position here is close to being defeated.

In the July 17, 2011 New York Times, David Leonhardt got it right on our inability to climb out of the current recession and add jobs.

He mentions the usual checklist:

"There is no shortage of explanations for the economy's maddening inability to leave behind the Great Recession, and start adding large numbers of jobs: The deficit is too big, the stimulus was flawed, China is overtaking us, businesses are over-regulated, Wall Street is under-regulated".

But in an intriguing analysis he comes up with the real problem:

"But the real culprit -- or at least the main one -- has been hidden in plain sight. We are living through a tremendous bust. It isn't a supply or a housing bust. It's a fizzling of the great consumer bubble that was decades in the making.

"The auto industry is on pace to sell 28% fewer new vehicles this year than it did 10 years ago -- and ten years ago was 2001, when the country was in recession. Sales of ovens and stoves are on pace to be at their lowest level since 1992. Home sales over the past year have fallen back to their lowest point since the crisis began. And big-ticket items are hardly the only problem."

TCR Comment: So, the problem is we have built an economy too dependent on the consumer economy and it's just not there. We may be in for an era of limited economic growth. Maybe part of the problem is we have been exporting hundreds of thousands of jobs overseas, along with much of our manufacturing base. By the way, whatever happened to the "Buy American" campaign?

To deal with the spending problem in D.C., we need more conservatives in the U.S. Senate. What are the prospects?

Democratic seats in play now:

Florida: Bill Nelson (D) in trouble; likely GOP candidate, Adam Hasner.

Michigan: Debbie Stabenow (D), low re-elect numbers; we need a good GOP candidate here.

Missouri: Claire McCaskill (D) trails Rep. Todd Akin (R).

Montana: Jon Tester (D) trails Rep. Dennis Rehberg (R).

New Mexico: Open seat - top GOP choices are Lt. Gov. John Sanchez or former Rep. Heather Wilson.

Nebraska: Ben Nelson (D) in trouble vs. Don Stenberg or Jon Bruning.

North Dakota: Open seat - Rep. Rick Berg looks good here.

Ohio: Sherrod Brown (D), in ultimate swing state, GOP hopeful Josh Mandel can win here.

Virginia: Open seat in another swing state, former Sen. George Allen (R) in dead heat with former Gov. Tim Kaine (D).

Washington: Maria Cantwell (D), GOP has been close statewide recently; is this our breakthrough race?

Wisconsin: Open seat in a new swing state and GOP has high hopes with the right candidate.

Wild Cards:

Connecticut: Open seat, dysfunctional state government, could open door for GOP win here.

Hawaii: Open seat, GOP can win if former Gov. Lingle gets in, otherwise not.

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government can not pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. ... Increasing America's debt weakens us domestically and internationally. Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

Who said it? Click here for the answer (PDF)

Houston Mayor Annise Parker's first term: a Fiscal Conservative Report Card.

Red, White & Blue featuring TCR Editor Gary Polland and liberal commentator David Jones, Fridays at 7:30 p.m. and replaying Sundays at 5:00 p.m. on PBS Houston Channel 8 and on the web at www.houstonpbs.org.