US budget deficit is to exceed $1 trillion in the fiscal year 2012 (4th year with such high deficit in a row), which is a significant addition to the national debte of $15 trillion.
This numbers are worth comparing with how much tax can be collected by taxing "the rich", in order to be completely assured that recent class war rhethorics has no connection with attempting to reduce the US debt:
"In September, the Congressional Budget Office estimated the 10-year deficit at $8.5 trillion. The nonpartisan Tax Foundation estimates that a Buffett Tax might now raise $40 billion annually. Citizens for Tax Justice, a liberal group, estimates $50 billion. With economic growth, the 10-year total might optimistically be $600 billion to $700 billion. It would be a tiny help; that’s all. “The purpose of the Buffett Rule is not to close the deficit gap,” Buffett has said. Hard choices remain, in part because existing deficit estimates already assume steep defense cuts."
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