Most believe that Europe’s financial day of reckoning is close at hand. Patrick J. Buchanan says ours is next. The fiscal irresponsibility of both the Republicans and Democrats is about to bring America into some very difficult times. The Pentagon cuts are coming, and if we can’t find other areas to put under the knife — taxes are coming for the middle class.

Market confidence continues to erode across Europe. Today, Fitch sliced the credit rating of both Italy and Spain. On the bright side, it might be difficult for those on the left to keep blaming the Tea Party for these downgrades.

What’s the state of crunch conservatism? Rod Dreher is asking readers to share their thoughts.