A Financial Ticking Time Bomb!

The total of Obama's spending so far, 787 billion in economic stimulus, 38 billion in jobs creation, 980 billion in health care plan and now 57 billion in increased VA funding comes to one trillion eight hundred and sixty two billion dollars! Which according to my calculations is a little over 562,000 dollars in debt every man woman and child in the U.S. owes. This is just what Obama has enacted since coming into office a little over a year ago. The total debt for the U.S. is 8 trillion the Congressional Budget Office predicts that another 12 trillion will be added in the next ten years! How in the world are we ever going to pay this back?! I dare someone to show me a time in this nations history when the economy has ever generated this kind of revenue? The plain and simple fact is it has not, nor will it ever. How then do we deal with this tremendous debt load? Charles Krauthammer in the Tulsa World (3/22/2010) hit on the inevitable solution, it is called the "value added tax".Here's the link tulsaworld.com. It basically is a federal sales tax. For every 1% in VAT tax would bring in up to 1 trillion a decade. This is also proposed by some in the flat tax theories,the only difference is with the flat tax the income tax is done away with and VAT replaces it. With the debt we have it would have to be in addition to our income tax, Europe has VAT's huge ones such as Germany 19%, France and Italy 20%,most of Scandinavia 25%. Enjoy your new healthcare while you can because we, our kids and grandkids are going to be paying for this for a long time assuming it doesn't bankrupt the nation first!