Wednesday, May 26, 2010

13 Trillion And Counting


I was reading a post over at Zerohedge that the total debt of the United States was reported in the Daily Treasury Statement as $12,989,095 million.

Additionally, the US Treasury auctioned off $42 billion in 2 Year debt.

All together the US has $13,031,095 million in debt (Then of course there is an additional $6 trillion more that isn't even counted!)

At the current rate of debt issuance by our government, it looks like the $14 trillion mark will be easily achieved withing 8 months, and it will keep growing as the Obama administration continues bailouts and insane spending programs (like Obamacare). At this point he and his pals definitely "out-Bush" Bush in spending.

This is what $14 Trillion looks like:

$14,000,000,000,000.00

The Congress and the Fed think that government borrowing and spending is going to make us prosperous.

But hey - Zimbabweans were "prosperous" too ... they had trillionaires and quadrillionaires aplenty. See how well their runaway debt issuance served them?

Anyone remember Argentina?


Oh right... that can't happen here.

2 comments:

Grouchoman said...

Very funny. did you forget about the last eight years who was driving the Debt Star? Drop the stupid Iraq war and perhaps we might not be looking at that Times Square debt clock anymore. Your guy dug this hole, not Obama.

Judy Aron said...

Oh right... I forgot ... it's ALL Bush's fault.

Honestly, you need to get more original that that.

While I agree Bush spent wildly, I think Mr. Obama out-Bush's Bush by more than a whole lot... like maybe a trillion.

By the way... Bush wasn't "MY" guy when he started doing the opposite of what he campaigned on.

They are all puppets anyway.