Federal Deficit Numbers are WRONG

$1.8 Trillion in 2009 - $1.3 Trillion 2010

We can add! $11.7 trillion debt + projected $3.1 trillion (2 yr deficit) + a trillion of newly printed currency. Taxes projected to be down another $500 billion this year. Whoops I forgot the other $1 trillion (sure to be much higher) for healthcare. The fact is this is too rosy a picture.

As bad and fiscally irresponsible as this is I am calling the shot now that this will be much worse. Let’s not forget the interest on the debt. We are fast approaching $750 billion in interest annually alone. This will be at $1 trillion in just a few years. Projecting a 2 year $3.1 trillion deficit, far beyond anything ever seen, won’t be the number. I expect we will be closer to $4 trillion than $3 trillion. Why? Well we all know numbers from our government are always much lower than they tell us for one. Second recovery will be slow and painful so tax revenue will be less and less. And does someone think taxing the $250k + earners will make up for it. Not in a million years – it will make matters worse.

Unemployment will rise if the “rich” get taxed more. Corporations will do more business overseas and lay off people. Government is growing bigger than ever and we haven’t even seen all the liberal programs getting baked in the backroom. Of course everyone should be aware of the other $111 trillion of unfunded liabilities the US has for social programs and other benefits for its citizens.

This is just the 2 year outlook. 2 YEAR! We have one chance this election cycle to reign this in – but I doubt it will ever be reined in. I think our national debt will be at least $15 trillion if not $16 or $17 by the time Obama is done with his first 4 years. The we will definitely be paying a trillion in interest on our debt – annually. It is so crucial that everyone in this country becomes an armchair economist with at least the knowledge of how out of control Congress is. This is chronic and will not end until it ends us or we stand up and do something about it.

American sovereignty is held by foreign governments, we are a bankrupt nation, decay from within on every level and that is just a start. We are the few with a voice. We can make a difference but over the next 12 months it is absolutely critical – everyday – every week to educate audiences around the country of the peril our nation is in.