Power Line made this accurate observation about the massive debt the U.S. is incurring that will be the burden of our grandchildren to pay off:
What most Americans may not yet understand is that the vast majority of the debt that the Obama administration intends to incur, not just this year but for years to come--assuming it can find the requisite creditors--has nothing to do with the present financial crisis. Rather, Obama intends to finance a grotesquely swollen federal government, with socialized medicine just one item on the agenda, by borrowing the money. How to pay it back? Hey, not our problem--Obama will be out of office by 2017 at the latest, so paying off trillions in needless debt will be up to our children.
Heritage Foundation chart
