With today’s $35 billion 2 year auction, the official US debt has officially passed the $16 TRILLION mark, a mere 286 days after the $15 Trillion mark was officially breached.
H/t to ZH who demonstrates total settled debt of $15.979 T:
+ today’s $35 billion 2 year auction:
= $16.05 TRILLION in official debt.
And just for fun…President Obama promising he would cut the budget he inherited in half by the end of his first term in office.
Good look reducing our official debt by $12 trillion over the next 70 days Mr. President.
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So. He’s a lying sack of shit. Big surprise.
The U.S. only has one political party, the party of Big Government. It has two squads, the R’s and the D’s. One squad likes to borrow and spend the other squad likes to tax and spend. Point is they both like to SPEND. This right vs left is a false paradigm. Behind closed doors I am sure they all just yuck it up. Then in front of the cameras they pretend to argue, because all they really want is to get is re-elected.
We should have a contest on when we think US debt will hit $17 trillion
The US Debt always grows at 8.7% per year since at least 1965. The debt also always doubles every 8.3 years.
Nothing can continue to grow exponentially so I figure the end is near and we will either have massive inflation or a currency collapse.
Shots of Ouzo for everyone, we’re Greece
Here a check, there a check, everywhere a check check….E I E I OWE.
House of cards and impossible to pay in the current economic climate.
“Good look”? Or “good luck”?
How much deeper can this hole get???
I suppose we will literally reach China if we dig a little further
It already hit 16 trillions? I was hoping to look at the countdown of the US debt reaching 16 trillions at http://www.usdebtclock.org/ cause it’s interesting but also bad that it hit that amount.