I can do it too:
It took the United States of America 233 years (1776-2009) to amass a national debt of $11 trillion. Yet President Barack Obama’s record large 2009 budget deficit estimated at $1.85 trillion and his own spending plans for the next 10 years (2010-2019) show that our national debt will likely double over the next 10 years.
Using the Obama administration’s own projections, the non-partisan Congressional Budget Office (CBO) estimates that, including the record 2009 budget deficit of $1.85 trillion, and huge annual deficits over 2009-2019 will result in an additional $11.1 trillion in national debt, on top of the current $11.4 trillion. As I will discuss below, the national debt will very likely more than double in the next decade because some of the CBO’s economic assumptions may be too optimistic.
As noted above, the CBO also recently revised its estimate for the budget deficit for fiscal year 2009 to at least $1.85 trillion. But unless the economy rebounds soon, that number will very likely top $2 trillion by the end of September when FY2009 comes to an end. According to the CBO, Obama plans to run a FY2010 deficit of apprx $1.4 trillion and almost $1 trillion in FY2011.
Keep in mind that these deficits do not include even half of the massive costs for Obama’s health insurance plan, which some experts now project will cost between $1.5 and $2 trillion over the next 10 years. Likewise, these projections do not include any money for the trillions that will have to be spent saving Social Security and Medicare over the next decade.
2009 $1.845 trillion
2010 $1.379 trillion
2011 $970 billion
2012 $658 billion