US Government 101

How concerned should you be about the US's national debt? Extremely. Here is why... 

• Our current US National Debt: $15,300B
  Translation: What the US government owes to the rest of the world.
• Our current US GDP: $15,144
  Translation: Everything the US produces and consumes in a year.
• Current US Annual revenue: $2,174B
  Translation: How much Americans pay in taxes each year.
• Total deficit over the next 10 years under White House's projections by 2021: $9,387B
  Translation: How much we will add to the national debt in the next 10 years.
• Interest total under White House's projections by 2021: $6,051
  Translation: Amount extra in interest we will pay on the national debt in the next 10 years.
• Annual interest by 2021 under White House's projections: $928B
  Translation: Extra amount in interest we will pay on the national debt, just in 2021. Nearly $1 trillion.
• US National debt under White House's projections by 2021: $24,687B
  Translation: What the US government will owe to the rest of the world by 2021.

Sources:
http://www.usdebtclock.org
http://www.whitehouse.gov/omb/budget/Overview/

The US's debt-to-GDP ratio (101% of GDP) is almost as high as Greece's (129%) before their country declared bankruptcy. At our current rate of spending, the US will be at ~163% GDP by 2021. Unless the US drastically reduces spending, we may be bankrupt within the next 10 years.