On Black Friday, While Media Covered Shopping Stories, U.S. Public Debt Topped $18 Trillion

From Zero Hedge: Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.

debt to the penny Dec 2014
It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the “benefit” of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.

And now we wait for the US to become Spain, and add the estimated “contribution” from hookers and blow to GDP, once again pushing the total debt/GDP ratio below the psychological 100% level. Read more at Zero Hedge.

Added by CtH:

2014_12 01 18 Trillion but nobody wants to talk about it

1 Comment

Filed under Barack Obama, Economy, National Debt

One response to “On Black Friday, While Media Covered Shopping Stories, U.S. Public Debt Topped $18 Trillion

  1. Excellent graphic, Chrissy! Oh, and by all means, let’s continue to talk about imaginary climate Armageddon while the REAL specter of starvation and death looms over our heads.

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