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:
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?
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.