Economic Armageddon Courtesy of the Obama Budget

The CBO calculates Barack Obama's budget will add a whopping $1 trillion of debt every year for the next nine years until our debt will be an unbelievable 90% of GDP.

For perspective, the largest deficit ever approved by a Republican Congress was $ 300 billion in 2004. The Republicans of recent years may have been disappointingly free spending, but they comeacross as raging deficit hawks compared to Obama.

Do not expect things to get much better, either. Starting in 2014 or so, the true costs of ObamaCare are going to be felt, blowing our debt wide open.

Brace yourselves as well for the United States to lose its AAA credit rating. Weare racking up unsustainable debt, which means our bonds are becoming too risky to buy. Our AAA rating survived through the Great Depression, but it probably will not survive Obama.