Are we at the point of no return? There comes a point that we just can’t handle debt anymore. Our country rating can decrease, it will be tougher for us to borrow abroad, our markets will lose money in interest rate swaps, our money will be worth less when we try to print more money…it’s just a bad scenario. Today, the federal deficit is at $12,245,872,000,000. In case you missed it, that’s $12.2 trillion. Our GDP is $14.4 trillion…hence our government has a deficit that almost exceeds our entire nations economic output. Under Obama, the government spent $3.52 trillion this year, which is almost 20% more than was spent in 2008. The government doesn’t pay for all of its programs through taxes, but tax revenue does account for a large share of the total revenue. In 2008, the federal government collected $2.5 trillion through taxes…this number dropped to $2.1 trillion in 2009, which is $1.42 trillion less than the government spent. Below you can see that 81% of tax revenue comes directly from the citizens in either income taxes or payroll taxes but don’t think that corporate taxes and excise taxes don’t have an impact on you, ...