Is the biggest threat to the US government the current US government?

You'll need to log in to read the article, but it is free and I think they use that as a way of tracking the number of people reading their work. The site is a collection of articles mostly by some of the professors at the University of Pennsylvania.

Fate Worse than Debt: Can the U.S. Deficit Rise to $45.47 Trillion?

The U.S. government's future obligations outweigh its projected revenues so heavily that it would need a permanent income tax increase of 66% or the immediate elimination of all federal discretionary spending to put it on track for balancing its finances. Such is the startling conclusion of a report by Wharton insurance and risk management professor Kent Smetters and Cleveland Federal Reserve Bank economist Jagadeesh Gokhale. The two argue that the government's accounting system is backward looking and so has failed to properly account for future outlays such as Social Security and Medicare

http://knowledge.wharton.upenn.edu/articles.cfm?catid=9&articleid=796
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The article ends drawing parallels between the current US administration's dubious fiscal projections and the financial under-reporting by some of the corporations who've recently shaken confidence in the economic world.

Harold Haxton

I laughed and laughed till I had tears in my eyes. There is a lot here but it is worth reading it all if you have the time... or even if you don't.
http://www.phobe.com/haxton/index.html