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What happens when you have a recession as bad as the Great Depression and add to that a stimulus package in the range of $800 billion to $1 trillion?

Debt.

The current national debt is $10.6 trillion about 73 percent of the country’s GDP (gross domestic product).

Notably, it is the sum of all federal deficits since the founding of the United States, according to the Economy Watch.

As the next American president digs deeper into the federal pocket to prepare a stimulus package, the country is facing the unparalleled prospect of trillion-dollar deficits for years to come, according to Obama and his top economic advisers.

Peter Orszag, Obama's choice to head the Office of Management and Budget, said and Obama acknowledges, that the financial impact of his stimulus package will be of serious concern.

The Economy Watch reports that according to Orszag’s prediction the United States would have a budget deficit of $1 trillion even before the start of the next budget.

To reassure the public, Obama said he would seek to make sure that money is used wisely and that he would work with Congress to implement spending controls and efficiency measures throughout the federal budget, the New York Times reported.

Translation: The bigger the debt, the more the urgency to borrow, leading to an even bigger debt.

A debt that will be further complicated in the years to come by the soaring costs of Medicare and Social Security for retiring baby-boomers, the Times report stated.