US government owes itself roughly $4.5 trillion of $12+ trillion National Debt http://www.vheadline.com/readnews.asp?id=90463
The Government already owes itself for roughly $4.5 trillion of the $12+ trillion in outstanding National Debt. Next year's deficit alone is now believed to exceed another $1.6 trillion. Such huge negative numbers are projected to continue thru 2020 (and beyond). When the outstanding future debts are tendered for payment, we shall see an elimination of virtually all government programs, a default on the debt, a massive printing of additional currency, and or a significant increase in taxes.
The outstanding debt is already approaching a full year's gross domestic product/GDP (the value of ALL goods and services produced/ consumed in the entire nation for a full year). If tax revenues continue at current levels, Uncle $ugar will (within ten years) use up all its tax revenue income for outstanding interest on the debt, defense (not including any wartime expenditures), Social Security, and Medicare.There will be NO money for the recently passed universal health care program being hawked to US/us. But … they are not presently telling us that little factoid, now are they?