The US will hit the debt wall by 2015

Here is an interesting video by Mike Pento. Some quotes:
"The maximum duration of having a quiescent market is around four years, but it could be much sooner than that when we hit the debt wall. ... The publicly traded debt just reached 8.5 trillion dollars. It was 7.5 trillion last year. By 2015, it's gonna reach 14 trillion dollars. It's basically going to almost double in 6 years. ... The interest payment on the debt by 2015 will be about 1 trillion dollars. Even if you grow revenue by 50%, 30% of all government revenue is going to pay interest on the debt. .. It leads to unfortunately a dollar crisis and a bond market crisis. ... We need to drastically cut spending and we are doing the exact opposite.

Won't cutting back on spending now lead us into a worse recession? It will on the short run, but what is your alternative? ... We've kicked the can down the road but the can has gotten much much bigger. So when we do have to address this situation, who is going to bail out the United States? It's not going to be the IMF we just have too much debt. It's going to be the Federal Reserve with their printing press."