The Ever Growing National Debt

In a blog post entitled National Debt Hits Record $11 Trillion, Mark Knoller points out that with a national debt exceeding eleven trillion dollars, the United States of America owe more than $36,000 for every man, woman and child residing in our country. Our national debt has hit a record high, and it is estimated to continue to grow unchecked, with some estimates saying that the debt may continue to grow by a trillion dollars a year until at least 2020, if not longer. We are basically digging ourselves into a hole that will be very difficult to scramble out of, especially as more and more baby boomers retire and the demand for social security, medicare and medicaid increase. I for one am more than a little freaked out considering that I will not even be thirty in 2020, but oh well we can always keep borrowing more money from China... but wait! something about that sounds ominously familiar.