Even this, however, understates the size of catastrophe the United States faces. There are no precedents in history for a great power spending itself to death on the scale America is doing. President Obama has added $5 trillion to the national debt, and has nothing to show for it. Do you know how difficult that is to do?
Personal debt per citizen is currently about $50,000, but at least you got a La-Z-Boy recliner and a gas-fired barbecue out of it. Obama has spent America’s future, and left no more trace than if he and his high school “choom gang” had wheeled a barrow of $5 trillion in large notes behind the gym and used them for rolling paper.