[T.L.Sink]

We're bankrupt. Heritage Foundation and other think tanks have clearly and mathematically demonstrated that future generations are in hock and will be lucky if they can even pay the INTEREST on this debt. This means an inevitable decline in American living standards as well as its ability to fund its national defense. Yet scarcely a month goes by without Obama proposing some additional multi-billion dollar spending scheme. The fiscal crisis is out-of-control and will soon be irreversible.

[ILS21R]

Looks like we’re really up sh*ts creek.

[SMARTY]

“Yet scarcely a month goes by without Obama proposing some additional multi-billion dollar spending scheme.”

I think “O” could care less if any of these things get funded. He just wants to overwhelm public consciousness with so much of this kind of static that the other, more fundamentally dangerous changes can take place unnoticed and unchallenged.

[eleni121]

66% of the IOUs are owned by foreign entities.

I would say that the US is no longer an independent entity...another attack could be a death knell.

[Mr. Jeeves]

This means an inevitable decline in American living standards as well as its ability to fund its national defense.

We're headed for a major collision at the intersection of Reality and Sob Story Journalism. To balance the budget, a whole lot of old/young/sick/infirm/down-on-their-luck people are no longer going to be receiving direct cash payments from the government as a reward for being alive and "voting right".

The weeping and gnashing of teeth is going to be horrendous, but the end result will be what it always is - an authoritarian future government (our own, or China might do it for us) killing off the expensive excess baggage. We can choose this future, or we can grow up...I'm not hopeful about the second option.

[Titus Quinctius Cincinnatus]

We should note that $130 trillion is greater than the total GDP of the planet.

Sooner or later, the Zeta Reticulans are going to foreclose.

[Principled]

what is that, like $400000 for each of the 325 million people in the US?