Why not just raise the debt ceiling again?

The current national debt is fourteen and a half trillion dollars. That’s a big number, but when the talking heads on TV start talking about billions and trillions, the shock value wears off. They might as well be discussing “gazillions.”
Time for a reality check. If you counted out fifteen trillion dollars in $100 bills, this is what the stack would look like:
15 trillion dollars
That’s the current national debt. We’re already on the hook for all of it. But what about our future commitments to pay for Medicare (both the old familiar program and the new prescription drug benefit) and Social Security? Unless we cut federal spending to sane levels, the best guess so far is $114 trillion. What does that look like if you count it all out in $100 bills?


115 trillion dollars
That’s only Medicare and Social Security. America’s entire economy only produces $14.5 trillion dollars per year. Even if Obama and the Democrats confiscate every single penny earned by every American everywhere for seven years in a row, there wouldn’t be enough to pay for those two programs. You want context? The economic output of all humankind generates a bit over $58 trillion a year. That only covers one half of that gargantuan tower of Democrat spending commitments.
Please keep in mind that the Democrat Tower of Your Money only represents the bill for Medicare and Social Security. Add in pensions, Medicaid, Obamacare, national defense, interest on the debt, and all the rest of the gazillion things the federal government does, and you’d have several of these towers of money standing side by side, blocking out the sun. These aren’t new spending proposals. This is a tally of what’s already coming due, even if we add no new commitments or programs or agencies from now on, and if inflation stays where it is (dream on), and if we don’t get involved in any more wars.
We do not have a revenue problem. We have a spending problem. The Democrats are lying to you.

3 comments

  1. Brain Shavings

    America’s debt now exceeds 100% of GDP

    Great news, everyone. Remember how we were assured that the debt ceiling increase was absolutely essential to preserve the United States of America’s AAA credit rating? It turns out the politicians lied again. US debt…

  2. Brain Shavings

    We have a spending problem

    This visualization helps explain things so well that I’m republishing an old post to drive the point home. The current national debt is 14.8 trillion dollars. That’s a big number, but when the talking heads…

  3. Brain Shavings

    $15,OOO,OOO,OOO,OOOBAMA

    Just how much does the federal government owe? Here’s a visualization of the national debt as a stack of $100 bills (click to see it at full size): That’s right, folks. Our national debt just…