us debt national

How dangerous is the US national debt?

The budget deficit for fiscal year 2010 is a staggering 1.75 trillion dollars. This does not include the costs for the recent Economy Reinvestment Act. The CBO forecasts the budget deficit will be in excess of 1 trillion for the next fiscal year and be cut in half to 500 billion (still staggering, in my view) by 2015. America’s national debt will soon exceed 100% of our GDP. What are the implications of this sobering reality? This seems like insanity to me.

It is insane.