"Blanche Dubois" economy

2012 Person of the Year is President Obama in Time magazine. In the cover story, it caught my eyes that Obama got the votes of 71% of Latinos, 93% of blacks, 73% of Asians and 60% of those under 30. What it worries me is, in 2011, 40% of US spending is from borrowing, i.e., only 3.6 trillions out of 6 trillions spending is from tax revenue which means US economy is effectively a "Blanche Dubois" economy. Even the Obama's proposed tax increase on wealthy households above $250K/yr will only account for 25% of tax deficit. Non-white voters in 2012 have already surged to 28% and social safety net in 2011 accounted for 76% of US spending. I feel pretty pessimistic about the future of US since Congress has basically kicked the can down the road for almost all the critical economic reforms. Fiscal cliff, 10 days from now, may be inevitable. 1/1/2013 will be the real doomsday rather than the unfounded 12/21/2012.