http://www.cedarcomm.com/~stevelm1/usdebt.htm

We’re obviously living high on the credit card right now.

This can’t go on forever. The biggest question is not when it all comes due but how much damage it will do to the next two or three generations at a time when medicare and social security obligations are about to explode in red ink. I foresee unceasing wailing and gnashing of teeth. Many of the things that make this country attractive won’t be available to our children.

Of course, this massive debt would have been a huge burden even if Iraq had been the resounding success that this administration had promised.  In the end, Bush will leave it to “future presidents” to deal with both of these intractable problems.