In March, the non-partisan Congressional Budget Office (CBO) warned, “President Barack Obama’s budget would produce $9.3 trillion in deficits over the next decade, more than four times the deficits of Republican George W. Bush’s presidency.” That warning is already coming true. While Congress was debating ObamaCare, a new Big Government program expected to cost $1 trillion, the announcement came last week that the United States posted a record annual deficit of $1.4 trillion. To give you some perspective, the previous record deficit, recorded last year, was a “mere” $459 billion.

But, if things don’t change quickly in Washington, one budget analyst warns that it could get a lot worse than the CBO suggests. Brian M. Riedl of the Heritage Foundation says, “The White House figures are based on unrealistic estimates of discretionary spending, interest payments and interest rates.” According to Riedl, a more realistic analysis produces deficits “$4 trillion higher than recent estimates by the Obama administration and the Congressional Budget Office.” And if spending goes unchecked by future Congresses, the budget deficit could reach $2 trillion a year by 2019.

That kind of outrageous spending is unsustainable and will bankrupt America. But it helps to explain why liberal politicians are proposing a massive new energy tax, a value added tax, new surtaxes and excise taxes and more.