Yesterday, the head of the Congressional Budget Office (CBO), Douglas Elmendorf, said our nation's budget deficits are "unsustainable' and "can't be solved through minor changes."

Here's the full quote: "U.S. fiscal policy is unsustainable, and unsustainable to an extent that it can't be solved through minor changes". "It's a matter of arithmetic."

The situation is so bad that Elmendorf also admitted that the CBO is beginning to study the impact of adding an entirely new tax to the federal taxing scheme: the value added tax (VAT). The VAT is expected to be the favored new tax of Obama's so-called Deficit Commission.

-- Deficit numbers staggering also, recent numbers from the Treasury on the fiscal year 2010 federal budget deficit are staggering:

--A record $220.9 billion deficit in February alone

--For every dollar in taxes and other revenues the federal government took in, the government SPENT $3.05.

--Five-month deficit total: $651.6 billion, more than 10 percent higher than last year's record.

--The five-month total is larger than any YEAR in American history prior to 2009.

--The FY2010 budget deficit is now projected to be $1.56 trillion AFTER stealing from the Social Security Trust fund.

--The CBO projects that interest payments on the debt will total $916 BILLION annually by the end of the decade.

You can't spend yourself out of debt, trouble or anything else. Someone needs to tell Obama and Congress.