MILE MARKERS ON THE ROAD TO HELL ... LOST MAYBE BUT WE'RE MAKING TIME

ARE WE THERE YET?  NO! BE QUITE AND LOOK OUT THE WINDOW, YOU'LL KNOW WHEN WE GET THERE.
CBO: Obama to Push Public Debt Above $20 Trillion by 2021(CNSNews.com) – The Congressional Budget Office says that President Barack Obama’s 2012 budget will cause large and persistent yearly deficits that will push the public debt to $20.8 trillion by 2021. This means that the debt incurred as a result of Obama’s planned decade of deficit spending would be worth 87 percent of the value of all the goods and services produced by the economy.

The Facts

Many members of the GOP are proud that they have cut $10 billion from the budget over a period of 5 weeks. And while cutting spending rarely ever happens in Washington DC, Republicans and all Americans need to keep things in perspective. The facts are simple. Let's review. The same day that the House GOP voted to cut $6 billion, our national debt jumped up by $72 billion [2]. An analogy: If every penny represents $1 billion, our national debt plus current deficit equals 15,800 pennies. The GOP has removed 10 pennies so far. That's it. And the Democrats wanted to remove about 4 and 1/2 pennies for the rest of the fiscal year, which ends in October. The national debt is over $14.2 trillion [3] while we borrow about $4 billion every single day. This doesn't include unfunded liabilities (see below). $10 Billion in cuts is equal to 0.07% of the national debt. That's less than 1/10th of 1%!!! The current deficit is projected to reach $1.6 trillion - just for this fiscal year.  Our deficit for the single month of February (the shortest month of the year!) was $223 billion [4] - the largest deficit in our history. We would have to invest $60 trillion right now [5] to cover the current unfunded liabilities of our federal government, including the debt and current deficit. In other words, we need $60 trillion today to keep the promises of payments made by politicians who will be long gone when the bills come due. Every single US man, woman, and child owes almost $200,000 to pay for the deficit + debt + unfunded liabilities. The recent events in Japan are showing us that a nation living so close to the fiscal edge cannot afford an unexpected disaster to occur [6]. We are drowning in so much red ink that one unexpected, unpreventable, uncontrollable event could bring our house of cards right down on top of us. The following URL's provide real-time values ...

U.S. DEBT CLOCK
U.S. DEBT CLOCK 2004
U.S. DEBT CLOCK AT CURRENT RATES FOR 2015
U.S. DEBT CLOCK CBO PROJECTIONS FOR 2015
STATE OF CONNECTICUT DEBT CLOCK STATE OF CT DEBT CLOCK
SELECTED COUNTRIES ENERGY USAGE AND PRODUCTION