I'm not crying wolf. That expression from Aesop's Fables means to raise a false alarm. There is no false alarm, there is only the gut punch of reality. Our country is on the brink of an economic collapse (Happy Thanksgiving!), and Senator Ron Johnson (R-WI) explains why in his statements following the "Supercommittee's" failure to reach a deficit reduction agreement last week:

Last week, our nation's debt surpassed the $15 trillion mark, and it continues to grow by approximately $100 billion a month. Add in the unfunded liabilities of Social Security, Medicare, and federal pensions, and our nation's total liabilities equal $99 trillion ($321,000 per person). When you consider the fact that our $99 trillion liability exceeds the entire net asset base of the United States ($78 trillion), it is easy to see how bad things are.

Unfortunately, Washington has failed to deal with this by resorting to another round of secret meetings and a ‘special committee.’ I was skeptical of the process from the start, but to encourage success, I submitted to the committee a list of savings totaling $1.4 trillion. Reducing the rate of growth in government spending should not be this hard.

We need economic growth and real leadership - something that has been absent from Washington for far too long. America is facing a financial emergency. It is way past time for us to start acting like it.

Rather than gloss over those numbers, because our congress is very effective at tossing out numbers so large we tune out, let me point out a few things.

The nation's debt is increasing by $100 Billion each month. From what? Why are we spending 100 Billion more every month from the previous month? What would happen if you added to your personal debt every month, without increasing your income?

Unfunded liabilities of Social Security, Medicare and federal pensions is simple to understand. It's what we know we will have to pay for some day, but we haven't started paying for yet, nor do we have a plan in place for how we will cover those costs. Read: the massive numbers of Baby Boomers who have begun to retire and the massive number of government workers (the only real job increases since Obama took office) who will receive benefits for the rest of their lives.

Our total liabilities today equals $99 trillion, which means your portion of that debt is $321,000 (congratulations). But more striking than this debt-you-never-knew-you-had is that this $99 trillion liability exceeds the entire net asset base of the United States ($78 trillion). Here is what net asset base means: if we were to gather together everything of value in America today-- businesses, land, homes, things, and say, sold them to China who came a-knocking, everything would be worth $78 trillion. Huh. That's less than our total liabilities. A lot less. $21 trillion less. What we have to pay for is LESS than what assets currently exist in America. (But taxing the rich will fix everything? I digress...)

Our congressmen are not stupid. Our President is not, either. They have seen the numbers. And yet they continue to add to our debt with as much consideration as a creep who steals Bill Gate's debit card. Want to build a $65 million streetcar that travels in a 2-mile loop through downtown Milwaukee? Sure. Should the Internal Revenue Service deliver $112 million in undeserved tax refunds to prisoners who filed fraudulent returns? Absolutely. Want to require taxpayers to cover 100% of the cost of public school teachers' pensions-- because, after all, they cannot set aside any of their own paycheck to do so? Perfect.

Why is our government spending money we don't have? It is not by accident, ignorance or passivity. It is a calculated attempt to redefine our way of life and fundamentally transform America (Campaigner Obama circa 2008).

In a way, the Occupy Wall Street protesters who are camping out and sharing diseases in the name of bringing "awareness" to the unfair and shackling amount of college debt they carry are right on. Yes, debt sucks. Debt is dangerous. Debt can ruin your opportunities and ruin your future. Now take this bar of soap, march on down to D.C., and have at it.

No need to cry wolf here. The numbers speak for themselves.

This is the tendency of all human governments. A departure from principle becomes a precedent for a second; that second for a third; and so on, till the bulk of society is reduced to mere automatons of misery, to have no sensibilities left but for sinning and suffering... And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression.
-- Thomas Jefferson