Questions, Questions...

Thank you for weighing in on the homes schooling issue - y'all are terrific!

Meanwhile, I have some questions. I must own up to no small amount of ignorance regarding the national debt issue. I have plenty of debt issues of my own to deal with, and all I understand about the whole national scene is that it would suck if the US didn't pay the water bill because turning Niagara Falls off means a huge deposit and it's a bitch to turn back on again - the valve gets stuck. Don't talk to me about the power bill...if we turn the national a/c to a warmer temperature, I'm pretty sure Kansas will burst into flames.

So...

Why did it take so long for Congress to figure out we have a debt and that it was reaching critical mass?

Why, when we have this monstrous debt, is Congress still worried about spending money on frivolous shit?

Why, when we have this monstrous debt, is Congress still getting raises?

Why is S&P to blame for saying our credit is somewhat less marvelous than it used to be? Isn't it? And what's the big deal about going from a AAA to a AA+ rating? I mean, it's not like they downgraded us to a Z- or something.

Is Congress unaware than when one spends more than one earns, one accrues debt? Because I'm a fiscal idiot, and I know that...

Shouldn't Congress be less concerned with the S&P rating and more concerned about this massive monkey in the room? Are they really mad that S&P simply pointed out that the Emperor's new clothes are somewhat less than the sartorial splendor we're supposed to see?

Why are we happy that China is buying our debt? Shouldn't we be worried? Also, shouldn't we be focusing on paying down our debt and not on whether China will keep buying it?

Why is Congress spending money like a broken water main gushing H2O when the rest of the nation is awfully thirsty??

Is China buying our debt different from making us a loan? It seems like it would be...

Or is it more like when you don't pay a credit card bill and the company sells your debt to a collection agency, and the agency can come after you for debt plus interest, or threaten to send Guido and Nunzio (or Cho Phan and Su Li, whatever) after you with a baseball bat/giant chop stick?

This whole thing seems stupid-simple to me - we owe money, so maybe we should quit spending it on crap we don't need until we can stand on our good credit again. Alas, the people in Washington forgot they were voted in and are actually supposed to represent us and not their bank accounts, which bank accounts are supported by lobbies, special interests, and the votes they buy with social programs funded by Somebody Else.

Can someone explain this to me, using small words and simple phrases??