"We're broke"

President Obama used those words not that long ago. The reason he dropped all the hopey changiness.

“Is the U.S. Government Bankrupt?” which was asked by Pete Morin in his article published today in American Thinker.
Here are some exerpts:
Before we continue to debate the merits of any Obama health care plan, we need to consider a few important facts.
“By any rational means, we must consider the present condition of our Government’s financial situation. An honest look at those finances would have a prudent person conclude that our government is tacitly bankrupt. Our unfunded liabilities far exceed our assets. Adding up all unfunded liabilities for Social Security, Medicare, Medicaid and Government sponsored pension funds gives us a figure slightly in excess of $100 TRILLION dollars. That’s TRILLION with a ‘T’. The Federal budget deficit for fiscal 2009 will be approximately $1.84 TRILLION. That’s TRILLION with a ‘T’. Over the next ten years the projected deficit will be $9 TRILLION +. That’s TRILLION with a ‘T’. Of course, this projected deficit comes from the Congressional Budget Office and has to be considered a conservative estimate. In 1966 the feds estimated that the cost of the Medicare program by 1990 would be approximately $9 billion dollars/year; the actual cost was $67 billion dollars/year.

Yup. The U.S. government already has 100 trillion dollars worth of bills that it has no ability to pay. I'm sure the president must be thinking that another trillion to nationalize health care is a drop in the bucket. And the benefit to the democratic party of making people dependent on the government is well worth the measley 1% increase in our unfunded liabilities.

The problem for the American taxpayer is that our government's current solution to our deficit problem of printing money to buy our own debt is not sustainable. The dollar is already dropping in value in relation to other currencies. There are only two solutions: to rescind our promises to social security, medicare etc. or the largest tax increase the world has ever seen. While I'm not a gambler, I'd put all my money on the tax increase. Either way I lose.