Another tocsin of impending economic disaster, brought to you by the representatives that you elected to power.  All we have to do is glance over the pond, to our friends in Greece, Spain and Italy, to see our future.

CNSNews.com) - According to the most recent official estimate by the federal Bureau of Economic Analysis, the Gross Domestic Product for 2012 will be $15.6061 trillion--or about $440.5 billion less than the $16.0466 in debt that the federal government had accumulated as of the close of business on Monday.
In other words, the debt is now approximately 103 percent of GDP.
The BEA, which is part of the Department of Commerce and which officially calculates GDP, based its current estimate of this year's GDP, published on Aug. 29, on economic data available through the end of the second quarter of this calender year.
If that current estimate is correct, the debt of the United States government eclipsed the value of the Gross Domestic Product of the United States on April 2 of this year.

In support of the seriousness of the matter is this news today:

Moody's expects to cut the United States debt rating unless Congress cuts a deal to lower the debt to GDP ratio, exactly what this administration won't seriously contemplate.  Don't listen to the spin about raising taxes, as he can't raise enough on the backs of the rich to even dent the debt, and he can't politically raise taxes on the middle class, at least before the election.  And consider the effect on the economy of pounding new taxes onto a populace already struggling to get by in what for all practical purposes is another recession.

Pssst!  The problem isn't that taxes are too low, it's that spending is too high.  Even if the government could get it's hands on new tax money, it would simply spend that immediately, leaving the same problem.