Was that a 7, or a 9?

A couple of numbers just to give some perspective.


1 million = 10 100,000's
1 billion = 1000 1 millions
1 trillion = 1 million 1 millions

One trillion seconds is equal to 32,000 years. My point is, it's a VERY large number, 1 trillion. This from the associated press,

The White House projected Tuesday a whopping 9.05-trillion-dollar US government budget deficit over the next 10 years, an increase of two trillion dollars from its previous estimate.

An increase of 2 trillion dollars? This was something already known by outside groups. The White House was simply falling in line with original CBO, and other, outside estimates. But how does one simply miss 2 TRILLION dollars? There's another issue. This estimated deficit does not include the proposed Health Care Legislation. If HR 3200 is passed and enacted, expect this number to be higher, by $281 billion through 2019, and $1.2 TRILLION dollars through 2029. Furthermore, this estimate assumes the branches of government will not add any further entitlements or legislations. This assumes the government will not spend more than we currently are on the war on terror. As the Military is requesting more troops, and given the record spending increases in 2009, it is highly unlikely spending will not increase over the next.

To give you an idea of what we're talking about here, the government has no plan for reducing debt.....at all. There is no legislation in the works to reduce our national debt. The following graph comes from a former economist for the U.S. Treasury, Martin A. Sullivan. The graph demonstrates our future debt increases based on 3 different budget proposals from the White House, Senate, and the House.
Regardless what budget is passed, we are on an open highway towards mayhem. In order to keep up with this massive increase, Mr Sullivan claims one of the following things will happen,

(1) taxes increase significantly; (2) entitlements are cut significantly; (3) economic growth exceeds anyone's wildest hopes and saves the day; or (4) the debt ratio continues to skyrocket, threatening inflation and financial turmoil.

If Obama continues his policy of taxing those making over $250,000, tax revenues will continue to plummet as they have in 2009, (i.e. Corporate tax revenues dropping 53%). His proposed tax increases of 1.4 trillion go toward new spending, not toward cutting the deficit. This is not a solution. Tax increases would have to be across the board, and they would be historical. Economists are simply not predicting record-breaking economic growth, though the federal government's budget and deficit estimates are hoping for it. But then, wasn't that the theme of the current administration's campaign, "Hope"? More than likely we are headed toward a record-breaking debt ratio.

Current Senate budget projections leave the 2010 debt at 60% of Gross Domestic Product, with a projected debt ratio of 120% in 2030. One hundred twenty percent. The heritage foundation has found,

The coming tsunami of Social Security, Medicare, and Medicaid costs are projected to push the federal public debt to 320 percent of GDP by 2050 and over 750 percent by 2083.

In 2010, if the senate wants to keep the debt ratio at 60% it would have to cut $380 billion from the budget, and every year after. What do you think the chances are this will happen? Martin A. Sullivan offers examples of cuts which would have to be made in order to achieve this;

(1) raise both the individual and corporate income taxes by 25 percent; (2) impose a broad-based 6 percent VAT; (3) cut defense spending by 55 percent; (4) cut Medicare spending by 90 percent; or (5) cut Social Security benefits by 60 percent.

These are all VERY drastic moves which a President, even one as bold as Obama, would never do. Then again, he has proven he is willing to cut our defenses, as he has already cut defense spending (the only area of the budget he has not increased spending), and canceled military defense programs.

What is this Federal Government getting at? The numbers involved here are staggering. We, as Americans, can NOT allow this to continue. We must take action. We cannot allow additional spending to be thrown into this pile. We cannot allow new entitlement programs to be enacted without sorting through this incredible wreck. It is the single most important issue facing us today. If we do not enact a plan now to reduce our debt, and lower our spending, Americans are going to find there country is in the hands of those who we are pressuring our debt today. We will find ourselves at the mercy of countries like our majority debt holder, China. We can not even consider adding a trillion dollar health bill to this budget before slowing and reversing this out-of-control slide.