The National Debt Continues To Soar...

The Great American Exploding Debt Supernova...

Fiscal Cliff Deal Does Nothing To Reverse Profligate Spending...

Out Of Control Spending, Not Tax Cuts, Driving Federal Deficits...

Under President Obama, The Federal Deficit Exceeds $1 Trillion for 4 Consecutive Years...

Why It's Impossible to Balance The U.S. Federal Budget

Records Set On President Obama's Watch

Budget Deficit A Result of A Leadership Deficit In Washington....

By the end of his first term, President Obama and Congress will have BORROWED more money than the federal government has SPENT over the nation's first 200 years!

The Path To An Incredible Shrinking U.S. Deficit...

Last week, Congressman Paul Ryan released his plan for massive budget cuts that would fundamentally alter the spending profile of the U.S. government over the long-term.

The headline number on the cuts: $6.2 trillion over the next 10 years.

In terms of the cut to government spending, Ryan's plan, "Brings government spending to below 20 percent of the economy, a sharp contrast to the President’s budget, in which spending never falls below 23 percent of GDP over the next decade."

They said the cuts were incredible, and they look it. Whether or not a program like this will ever be achieved is unknown, but its proposed impact on debt as a percent of GDP is dramatic.

Read more @ BusinessInsider.com - A Choice of Two Futures

Is Washington Bankrupting America?

The U.S. Government Will Spend $31,406 Per Household in 2010

Taxpayers filing their 1040s are likely wondering just where all their hard-earned tax dollars are going, anyway.

Washington will spend $31,406 per household in 2010 — the highest level in American history (adjusted for inflation).

It will collect $18,276 per household in taxes.

The remaining $13,130 represents this year's staggering budget deficit per household, which, along with all prior government debt, will be dumped in the laps of our children.

Government spending has increased by $5,000 per household since 2008, and nearly $10,000 per household over the past decade.

Yet there is no free lunch: If spending is not reined in, then eventually taxes must also rise by $10,000 per household.

Social Security Outlays to Exceed Revenue in 2010

Social Security's chief actuary reports that the social safety net will run a deficit for 2010.

That's 9 years earlier than expected!  The 2010 shortfall is expected to be -$29 billion.

Peter Orszag, now director of the Office of Management and Budget, predicted as director of the Congressional Budget Office in August 2008 that no one need worry about Social Security.

We were told: "CBO projects that outlays will first exceed revenues in 2019 and that the Social Security trust funds will be exhausted in 2049."

Doesn't exactly inspire confidence in the estimating prowess of the CBO or the OMB , does it?

CBO Report: National Debt Will rise to 90% of GDP in 10 Years

Is a new era of fiscal irresponsibility inevitable?

President Obama's fiscal 2011 budget will generate nearly +$10 trillion in cumulative budget deficits over the next 10 years, +$1.2 trillion more than the administration projected, and raise the federal debt to 90% of the nation's economic output by 2020, the Congressional Budget Office (CBO) reported on Thursday March 25th.