Red Ink

I heard Gov. Tim Pawlenty yesterday. He said the federal government takes in $2.2 trillion annually and has an annual budget deficit of approximately $1.5 trillion. But he said that's just the beginning. Nancy Pelosi just upped the national debt ceiling from $12 trillion to $14 trillion. Then the taxpayer is also on the hook for $65 trillion in payments for Social Security, Medicare, and so on. Pawlenty said we will have to default, though we won't call it that.

Are you getting fed up with deficit spending yet? More to the point, are you getting scared?