PHILLIPS: What’s your exit plan?

What’s your exit plan?

Matt Drudge of the Drudge Report made a cryptic tweet not long ago.

He said, “Have an exit plan …”

What is your exit plan? More importantly what is America’s exit plan?

America does not have an exit plan from the Great Obama Depression or the reckless economics that the Democrat Party has pushed on America since the ’70s. Liberals like to call people with the common sense to realize global warming is a scam, “deniers.” That is a derisive term originally attached to lunatics who denied the Holocaust ever happened.

Richard Williams, an economist at the Mercantus Center is calling many of those liberal politicians and activists “debt deniers.” He has a point.

Democrats and other liberals deny a fundamental law of economics. A nation cannot continue to spend more than it generates in income and remain economically stable.

Barack Obama and the left are debt deniers. They simply want to spend and spend. They claim they want to raise taxes on the “rich.” They claim raising taxes on the rich will cover their spending.

It won’t.

All of these tax “increases” are really changes that just make the tax code more complex and make it easier for politicians to use the code to reward their friends and punish their enemies.

The left likes to blow off the debt. It is only $17 trillion, they tell us.

The gross domestic product of America is $17 trillion. In short, America’s national debt is roughly equal to our national income. Or put another way, if the government confiscated every cent made by every American citizen and business, after a year, America would be debt free.

The problem is, the national debt is not the number America should be worried about.

According to economics professor Laurence Kotlikoff of Boston University, most of America’s debt is off the books. This debt is things such as pensions, Medicare, Medicaid and other unfunded liabilities. According to Mr. Kotlikoff, the actual debt figure for America is not $17 trillion.

It is $205 trillion!

Those numbers are staggering. To put this in terms that most people can wrap their heads around, this is the equivalent of someone with a job that pays $17,000 a year and having $205,000 in debts.

Imagine if someone in that position went to the bank to borrow money for their new Cadillac Escalade. Do you believe someone like that could get a loan? The mafia wouldn’t even loan money to someone in that financial condition.

This is the American economy today.

This is what the Obama Regime and the left are denying.

America is less than two months away from the midterm elections. The Democrats led by Harry Reid are trying to strip away the First Amendment out of the Constitution. They are demonizing Americans who have created an incredible business unlike the Democrats, produce products millions of Americans want.

The Republican Party isn’t talking about this either.

If anyone looks at the numbers, they don’t need a Ph.D. in economics to figure out that America cannot sustain this level of debt. One day those bills will come due and America will not be able to pay.

What happens then?

Does America start looking like Greece?

Perhaps Matt Drudge is right. America has no plan to deal with this.

What’s your exit plan?