Federal spending is set to rise to 46 percent of GDP by 2050. When you add in state and local spending, government at all levels will be consuming more than 60 percent of everything produced in this country. We cannot long remain economically productive or personally free with a government of that size.
Full article can be found here-http://www.cato.org/publications/commentary/misreading-fiscal-cliff
Incredible interesting article by Michael Tanner from the Cato institute. I suggest reading.