In case you want to keep track, here is the U.S. debt situation on one page. These figures are conservative compared to other estimates I’ve seen.
The top section of the site shows the national debt. It also shows the current year deficit which is added to the debt. The section at the very bottom is equally important. It shows the total unfunded liabilities. That is, this is what the government is short now to meet promises of future payment for entitlements.
I’m reminded of something Dennis Miller said 25 years ago (as the figures will indicate):
Federal deficit figures are in for the last decade, and the deficit for those ten years topped the trillion-dollar-mark. A trillion! And it goes up all the time. You know what that means, somewhere out there, there’s somebody who still insists on lending us money. I don’t know about you, [but] somebody runs up a tab like that on me, [and] I get a call from him hitting me up for more, I think I’m gonna go, “Hey, my man! You got that trillion you owe me!”