Dr. Coburn also provided mind-blowing perspective about the current Senate effort to raise the ceiling once again by almost another $2 trillion (take a good look at number 4 below):
• The debt limit increase will rank as the largest in American history, shattering the previous record nearly twice over.
• The federal deficit for 2009 surpasses our entire federal budget spending for 1999 by $200 billion.
• The deficit for 2009 is nearly three times our previous record for federal budget deficits.
• Our national debt in 2009 increased by a rate of $4 billion a day. That means every 1.5 days, the federal government is running a deficit equal to the entire annual budget of the State of Oklahoma.
• The national debt, not including obligations to the Social Security and Medicare trust funds, now stands at $39,000 per man, woman, and child.
• Currently, Congress borrows 43 cents for every dollar it spends.
Unbelievable, folks.
