Mind Boggling

We have a problem in our country that is so huge that few if any of us can really even comprehend it. That is the amount of money we are spending, printing, and promising. Each of these in turn WILL, let me repeat WILL destroy our society as we know it.

Spending
I talked about this a few weeks ago, here, on Friday this story popped up everywhere: Obama budget could bring $9.3 trillion in deficits. Basically, if we adopt Obama's 2010 Budget plan it will increase spending over the next decade by so much that we will almost double the debt that recently hit $11 Trillion. This type of debt accrues interest as well, which we have to pay back each year. The CBO says that this increase in the debt is "unsustainable," meaning we will eventually have some type of catastrophic collapse - a giant economic hurricane that will make the last 7 months look like a gentle summer breeze.

Printing
Every dollar placed in circulation makes every other dollar worth a fraction less. For example:

You have ten apples to trade, each apple is worth 1/10th (.10) the total value of your apple economy. Now, I pluck another apple from the apple tree and give it to you. You now have 11 apples, each of which is worth 1/11th (.091) of the value of the entire apple economy.

Our beloved government through our treasury and our federal reserve, is now creating more and more money at a screaming pace - PLEASE See Video. I want to quickly point out the fact that LBJ's great society and mismanagement of the Vietnam War created a situation that was temporarily solved by taking the US off the gold standard in 1971, and now irresponsible people are making extremely dangerous decisions with that leeway. We now risk massive inflation at some point down the road.

Promises or Obligations
Through our largest existing transfer programs: Social Security, Medicare, and Medicaid, the federal government has made $65.5 trillion in promises to Americans. This is money they do not have. Worse they do not have a plan to get this money yet. Guess who is going to pay for all of this???

So in traditional accounting terms our government is on the hook for $78.8 Trillion.
Just a little perspective:
What 1 trillion dollars look like.
78.8 trillion one-dollar bills end-to-end would extend from earth to the edge of the solar system and back! And there would be enough left over to go from the earth to the sun and back...and then we would have enough to go to the moon and back 264 times, around the earth 18 times (each time in 80 days of course!), from Washington DC to San Francisco and back 4 times, and after all that travel we would still be left with --- $21.1 Million.