David Malpass is a regular Forbes columnist. He is also running for the GOP nomination to take on Senator Gillibrand in New York. Good luck!

Anyway, his latest column clearly explains the enormous mess the feds (Dems and Republicans alike) have made with their uncontrolled appetite for spending money. I recommend the whole article, but just consider these sentences:

“The marketable national debt has ballooned to more than $8 trillion, but wait… the Obama Administration has budgeted an increase to $20 trillion over the next few years, bringing it to more than 90% of GDP. Even that huge sum — $100,000 for every working age American — doesn’t include the rapidly escalating debts of Fannie Mae and Freddie Mac or the government’s unfunded liabilities for Social Security and Medicare. And to keep the debt estimate down the budgeteers are making wishful assumptions that millions of high-paying jobs will appear and health care reform will pay for itself.”