the numbers are bleak.

"The bleak tomorrows are no longer twenty-five, thirty, or fifty years out; in the next five to nine years, we will be noticeably poorer and on our way to third-world status. We will be like Brazil, only without the hope of wealth from vast offshore oil resources.Ongoing annual budget shortfalls in the trillions of dollars will, by 2019, cause publicly held federal debt to exceed 100% of the gross domestic product. Together with all the trillions of dollars in unfunded liabilities, the United States will be, in essence, a bankrupt nation.

Deficit spending (program expenses exceeding dedicated revenue) began on Medicare (2008) and Social Security (2010). Social Security cash surpluses, which have been used to help finance other government activity, will no longer be available to supplement the rest of the federal budget. By 2019, these programs will require at least $160 to $200 billion a year in borrowing to keep up with promised benefits.

As a result of all the massive borrowing, the annual interest liability by 2019 will approach $900 billion annually. (2009: $187 billion.) Within nine years, spending on Medicare, Social Security, and interest will account for 97% of all federal revenue."

http://www.americanthinker.com/2010/03/downsizing_americas_economy.html