Arduino, two rulers and two displays

Hello, I'm new with arduino and programing, but realy want to realize this project.
I want on my driling machine table which can move left, right, forward and back put two rulers conected with arduino and two displays, what i always know how part(detail) on table is far from drill(table center).
It should work something like this: if driling table moves forward and left, rulers it captures and gives it to arduino and then arduino shows it on two displays(X and Y coordinates). But i don't know how to do it. So maybe somebody did it, or knows where to find how to make it, or something about it.
PLEASE NEED HELP!

P.S. I am sorry, if my english is bad.
P.S.S. What need to write in this option bars?

And one more thing, if i put this question in wrong place, please tell where it should be.

I understand what you are trying to do, but suggest you might be more successful going for a ready-built system such as shown here

Assuming the table is on screws which turn to move the table, you could use a rotary encoder on the screw on each axis (even if it's not a screw, a rotary encoder on the motor which moves the table will work). For drilling, it's probably not going to have the resolution to bother measuring parts of a turn of the motor, you will be able to get away with just counting revolutions of the motor. I'd suggest a reflective spot on the shaft and two reflective sensors (so you can determine direction)

From there, it's just measuring how many revolutions it takes to move the table a particular distance, and do the math. If one revoltion of the drive motor moves the table 1/32" (or it takes 32 revs to move it an inch) then you simply divide number of revolutions by the revolutions per inch to give you the distance moved.

It's then just a matter of spitting that out to a couple of displays... I would use a 16x2 LCD personally, very cheap, durable, and easy to work with.