Back to Reality

Good month, good quarter.

So why, a lot of you ask, do I always talk about this economy and these markets and just say, good grief?

Because I'm worried.

I'm happy to see the market up and moving; it's just that lots of things have me fidgeting and worrying.

I know markets climb a wall of worry, but I'm talking a bigger wall of reality: The reality of spending money we don't have; blithely assuming we'll have buyers for all this debt we can't stop.

I just find it ironic that Boeing was the worst performer among the Dow 30 stocks today, even though it was the best performer for the first three months of the year going into today.

Boeing ending the quarter with a warning: Health care will cost. A lot.

They're just the latest. There will be more.

Because there will be a reckoning for committing companies to bills they cannot pay, and a society to a tab it cannot afford.

There will be other countries, like China, who say it ain't worth the fuss holding dollars, so they pull back; and more secret meetings of countries looking for financial alternatives to us, so they will push back.

There is some comfort in knowing as bad as things are here, they are worse out there. So we benefit not because we still don't stink, but because they stink more.

That is hardly the stuff on which bull markets are built, but these are exactly the markets to which suckers are drawn — convinced that we'll find a way to pay for all of this. And companies that dare complain are making political hay of this.

I say, enough of this — and back to reality. Not red, or blue: Green. We're spending it, and we're losing it.

Just don't lose sight of the simple reality that what fuels this rally isn't so much what Barack Obama is doing, but what Ben Bernanke is providing: near zero percent interest rates.

Rates so low, it keeps inflation in check, and investors in clover. Until the bills come due; the folks who help pay them demand more for their trouble, and suddenly they're not zero. And mortgages aren't five percent, and the prime pushes higher, and our financial date with destiny comes nearer.

Because hear me when I say that date with destiny is coming.

A date marked by Republicans who let spending get out of control and Democrats who took the reins and let it get out of control more.

A bipartisan blood bath, brought to you by a government that saw it but didn't tell you, and presented now by a lowly TV anchor, here to say: I warned you.

Have a wonderful day.

— Watch Neil Cavuto weekdays at 4 p.m. ET on "Your World with Cavuto" and send your comments to cavuto@foxnews.com