Gulag Bound has a brief tutorial on the national budget disaster, “Raising the Debt Ceiling” For Dummies:

To say that our government is simply spending more than it takes in is an understatement when it comes to the out-of-control spending we’ve experienced under President Obama; what he’s doing is dangerous. He has spent about $12.2 Trillion in just 3 years; that’s $5.15 Trillion more than the approximate $7.05 Trillion that was given to him by taxpayers.

 
If you really want your blood pressure to rise (along with the debt ceiling!) the article has a list of the various black holes that the government is tossing your hard-earned tax dollars into. For instance:
 
• $1 billion – to Mexico so that they can drill in the Gulf (while Obama caused 23,000 Americans to lose their jobs because of his ban on US drilling in the Gulf).
• $2 billion – to Brazil for OFFSHORE OIL DRILLING!!!!
• $30 billion – of the $100 billion per year for UN Climate Change Policy; the UN admitted global warming is about wealth redistribution, not climate change policy.
• $430 billion from TARP that Timothy Geitner stated will be recovered by January 2011 – of which the Fed spent $350 billion in taxpayer funds to save 35 foreign banks.
• $80 billion to Apollo Alliance (socialist/communist George Soros group) to expand community agitation
• $44 billion – This represents a 28% pay increase for Fed employees (Fed pay increased 36.9% since 2000 while private worker’s pay increased only 8.8%.)
• $148 billion – loaned to Fannie Mae and Freddie Mac – these are government operated organizations that are taking control of 90%+ of U.S. home mortgages, and these are the organizations who contributed to the housing meltdown.
 
See more – if you can stand it 😡 – HERE.