Our government's very own Cassandra

It's that craaaaazy David Walker again, the Comptroller General of the United States, telling people we're going broke. From CNN: "One man's campaign against federal debt"

The way programs such as Social Security, Medicaid and Medicare are structured, the government will incur an additional debt of $50 trillion during the next 20 years, according to GAO figures.

The $50 trillion total amounts to about $440,000 per American household, Walker said.

The primary drivers behind the additional rise in spending are the baby boomers, who start becoming eligible for Social Security in 2008 and Medicare in 2011.

"We are talking about an unprecedented change in the demographic landscape of America," Walker said. "And we are not prepared for this oncoming wave."

(Hat tip: Heritage)