For comparison, President George Bush's worst year, which included last year's bailout bills, was $500,000,000,000 (slightly less, but I'm not a picky person).
There are approximately 300,000,000 people residing in the US legally.
1,750,000,000,000 divided by 300,000,000 is 5,833.
Obama's budget deficit for just the year 2009 is approximately $5,833 for every legal US resident.
"But," you say, "President Obama is gonna cut that deficit in half in three years!"
Yes, his projections (if they remain as they are) would have a $1,200,000,000,000 in 2010, merely a $900,000,000,000 deficit in the year 2011, settling at around $600,000,000,000 by 2012 and hovering around there until 2019.
1,200,000,000,000 / 300,000,000 = 4,000
900,000,000,000 / 300,000,000 = 3,000
600,000,000,000 / 300,000,000 = 2,000
Let's add that up.
5,833 + 4,000 + 3,000 + 2,000 + 2,000 + 2,000 + 2,000 + 2,000 + 2,000 + 2,000 + 2,000 = 28,833
(years 2012 through 2019 are all roughly the same, I'm giving our illustrious President a lot of slack here)
This means, that the total deficit (since each year doesn't get paid off in the next years budget, unlike what they'd like you to believe) per person in the US over the next eleven years will be $28,833. This means that if you have a family of three, your 'share' if divided equally would be $86,499. My family's share (there's 9 of us) would be $259,497.
That budget does not include Universal Health Care, Universal College Education, Universal Baby Bonds, Universal Laptops, Universal Broadband or many others of our President's promises...
This is simply the debt incurred by our gov't as the difference between the increased taxes they project collecting and the expenditures they intend to make. So that $28,833 per person is on top of the taxes you'll be paying between now and 2019.
The debt amount also does not figure in interest rates... all money that our gov't borrows, it borrows at interest. If it is not paid back, if it's allowed to accumulate, when it comes due, if every family in the U.S. paid all they could it wouldn't even scratch the surface. And it will come due eventually. China, today, let our President know that they expected us to pay our debts (as a side note, how humiliating!) This budget plan is simply unsustainable, even if by next month we have completely recovered from this recession. If, however, the recession lasts for another two years (rising gas prices are definitely going to slow our recovery), how bleak is the picture then?
Considering our gov't is already in debt (hard debt, not future promises like SS, Medicare or Medicaid) by about 11,000,000,000,000... I'd say we're in a heap of trouble.
I think it's time the American People stand up and take away President Obama's credit card. He's obviously not ready for that kind of responsibility.
We need to step up to the plate, cut our spending to the necessities, tighten our belts and start paying down the debt we already have, rather than increasing spending, raising taxes, killing our economy, and incurring trillions in new debt.