[Always Right]

Yep, maybe we can get Ross Perot out again to break out charts on the deficit. As much as people ride Perot, he did help pave the way for Budget deficit reduction.

[Conservative Coulter Fan]

Obama's Budget Would Send Debt to Levels Not Seen Since World War II

In 2008, publicly held debt as a percentage of the economy (GDP) was 40.8 percent, nearly five points below the historical average. Under President Obama's budget, this figure would more than double to 82.4 percent by 2019, and interest payments alone on this debt would be $100 billion more than Obama projects to spend on the entire Department of Defense.

Debt Held by the Public as a Percentage of GDP

Source: White House Office of Management and Budget; Congressional Budget Office.

Obama's Budget Would Increase Debt by 26.3 Percent of GDP Compared to CBO Baseline

The non-partisan Congressional Budget Office projects that publicly held debt will reach 56.1 percent of GDP under current law. If President Obama's budget is implemented, CBO projects debt to reach 82.4 percent of GDP.

Debt Held by the Public as a Percentage of GDP

Source: Congressional Budget Office; White House Office of Management and Budget.

Federal Budget Deficits Will Reach Levels Never Seen Before in the U.S.

Under current law, the budget deficit is projected to grow to 24.5 percent of GDP by 2082, even if the 2001 and 2003 tax cuts are allowed to expire and the AMT is not fixed. This will be driven by entitlement spending for Social Security, Medicare, and Medicaid, with deficits well above the 30-year historical average of 2.5 percent. Deficits of this size have never been seen in the U.S. and illustrate the need to reform these programs.

Federal Budget Deficit as a Percentage of GDP

Source: Heritage Foundation calculations based on Congressional Budget Office data.

[Sequoyah101]

How is it possible that we are not Bankrupt already?

We are witnessing a massive trainwreck and are absolutely powerless to stop it.

Powerless.

Conservatives can’t outspend and out promise liberals ...they simply aren’t stupid or irresponsible enough.

No business or country can survive with this much overhead. China understand it and will out produce us if they have not already and they are branching out. They plan to open car manufacturing in Bulgaria now.

There will be only ashes left after this year. Ms. Carrie Prejean was wrong last night on Hannity ...this WAS the greatest country on earth. It is now gasping for survival and the patient is terminal. We shall now let the scavengers over-run and take what is left while the overlords in the government preside from on high and away from the halocost.

[ezfindit]

Insanity, Complete INSANITY!

[ezfindit]

We need to get Ross Perot out of retirement and out there talking again 24/7 about Deficits...

[NTHockey]

Social Security and Medicare are NOT entitlements! We pay and our employers match for both in thefts from our paychecks. When you retire, you still pay for both. SS is considered taxable income and retirees pay into Medicare fund.

Both SS and Medicare are liabilties owed to the retirees. I say go ahead and stop paying and their won’t any place in this universe for you to hide. Osama bin Laden would turn them in!