We sit here on a 120 trillion dollar IOU referred to as, future unfunded liabilities. Our current annual deficit stands around 14 trillion dollars which makes our debt to GDP close to 100% . Studies show that beyond the 85 % threshold it is no longer possible to grow your way out of debt; leading to the devaluing of the currency and a drastic lowering of the standard of living. Since the landslide elections this past November, the Obama administration has been able to jam down an additional 300 billion in spending (welfare extension for 2011), DADT, Food Safety Bill...