Unsustainable at every level: Congress fiddles and we get burned - Big Government

Our annual budget deficits exceed a trillion dollars, the total published cumulative national debt is $14 trillion and we have tens of trillions of dollars in unfunded obligations under Social Security and Medicare. To that we can add the off the books bad mortgages of Fannie Mae and Freddie Mac of almost $300 billion. Through June 2010 the U.S. Treasury has injected $144 billion into those entities to maintain a positive net worth. Economists had long warned that this day was coming but the Democratic left in Congress led by Barney Frank assured us they were good as “gold” (check the price of an ounce of gold and see what you would rather have)."