America Will Pass $13 Trillion In Total Debt Next Tuesday; $397 Billion In Debt Rolled Month To Date

Tyler Durden's picture

Total US debt just hit $12,987,823,000,000, $13 billion from lucky $13 trillion. As next week the US Treasury is auctioning off another gross $140+ billion in Bonds, we will pass this totally irrelevant resistance level on May 25, when Timmy issues another $42 billion of 2 Year Notes. The next important support level of $14 trillion will be surpassed around the time the Democrats get destroyed in the mid-term elections, while the statutory debt limit of $14.3 trillion will likely have to be raised in January 2011 by a new republican majority, an action which will promptly reduce popular republican support following their ladnslide election victory, thus starting the pointless D->R->D->R etc cycle all over again. Also, at approximately that time headlines that US debt is now 100% of GDP will bring the US bond vigilantes out of hibernation and will send US interest rates soaring, assisted by Ben Bernanke's most recent announcement that the Fed will is once again"forced" to purchase another $1.5 trillion in treasuries and mortgages. 

Stepping away from the Ouija board, we also notice that so far in April, the Treasury has rolled another unsustainable amount of Treasuries: $397 billion, of which $$359 billion is in Bills.

The clock to the US' hyperstagflationary period is now ticking louder than ever

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Argos's picture

Ho hum, just another day in Crazyland.

Crime of the Century's picture

No sorry - you skipped the first tune:

your dance party has been preempted...

66Sexy's picture


ah.. that explains last weeks volatility, perhaps even the fat finger discount.

chumbawamba's picture

President?  More like Mother Fucking Global Dicator for Life!!!

I am Chumbawamba.

ISEEIT's picture

Is it just me or does 'community activist' as Prez seem like a somewhat short of brilliant idea? I just finished observing the 'ONE' on CSPAN. Haven't laughed so hard, nor felt so gut check sick before in my life.

We are living the definition of surreal.

chumbawamba's picture

A Community Activist has every bit of succeeding at President as anyone in any other profession.  Exceptionalism can be found in all walks of life.

The problem is duping an entire populace into believing they have "elected" a leader who is in reality a pre-chosen figurehead for a hidden group of "elites" that actually call the shots.

I am Chumbawamba.

spekulatn's picture

Al Sharp would call that an UNCLE TOM, no?

tip e. canoe's picture

i believe he would.  perhaps one day he will.

ISEEIT's picture

With all due respect (lots), I would say that the larger problem is a populace so easily duped. American idol as prez...WTF?

jessiejune's picture

it is really a question i meet too.
the day after tommorow will be a happy day and maybe we should go anywhere else to make fun .just say something about Maize Milling Machine

Clinteastwood's picture

When they call the roll in the Senate, the Senators do not know whether to answer "Present" or "Not guilty." Theodore Roosevelt

Moneygrove's picture

but the tax cuts are just kicking in !!!!!!!! GDP to the moon !!!!!!!!!!!!!!! 5.5 trillion plus the 2 wars on g.w`s watch suckers !!!!!!!!!! p.s. can I get a no bid contract to clean up the gulf oil spill ??????????????????

Common_Cents22's picture

We can buy time as long as other countries continue to blow up financially.  You can't outrun a bear in the woods, but you can buy time by outrunning your buddies.

John_Coltrane's picture

And smear some "greece" on their European asses just to make sure!  Bears love greece.

66Sexy's picture

grease and bears stop it im gettin horned up

LeBalance's picture

The Great and Proud United States of America:: tier together of friends' shoelaces.

DaveyJones's picture

From the film Collapse, Mike Ruppert

tizzleofdoom's picture

if any of your buddies are faster than you.........trip them!

bigdumbnugly's picture

Yeah but you know, a couple umteen trillion here and a couple umteen trillion there, and pretty soon your talking real money.

sheeple's picture

hey Miscreant, time to rehearse your "roll roll roll your debt"

Hephasteus's picture


Roll roll roll your debt gently down the stream. Merrily merrily merrily life is but a dream.

Kite kite kite your check gently cross the sky. Merrily merrily merrily life is but a cry.

Kick kick kick your can. Gently down the road. Merrily merrily merrily freedoms going to corrode.

SayTabserb's picture

...brilliant.  But for cadence:  2nd verse -

we're all gonna die

3rd verse -

merrily merrily merrily, waiting to explode...

Although we need as many verses as possible - this game is going to go on for a while...

akak's picture

Since we're singing debt songs, I had one from another thread that I might interject here:


My charge card 'tis of thee

sweet tool of usury

please bring me bling.


Land where my credit died

land of the card: DENIED

from gallows far and wide

watch debt slaves swing!

i.knoknot's picture

generally clever, but "please bring me bling" hit a 'chord' - classic.

chumbawamba's picture


Here's mine:

27 EU Nations in the EMU

27 EU Nations

Take one down, in debt make it drown,

26 EU Nations in the EMU

Eh, they cadence is all fucked up :(

I am Chumbawamba.

John_Coltrane's picture

"A rolling loan carries no loss"  Famous quote from Depression era banker.

Henry Chinaski's picture

It was $11,700,000,000,000 only 10 months ago.

Celsius's picture

Let it ride on black 14. We are the USA! We can never lose...

cougar_w's picture

It's less scary if you write it as "$13T".

Actually no, it isn't. Just kill me now.

dumpster's picture

even better


DR death

MaxVernon's picture

or, in scientific notation (!)  1.3 x 10^10 !!!

silvertrain's picture

or just say it real fast.

EscapeKey's picture

float's will run out of precision soon... time to start emigrating all that code to double's.


chumbawamba's picture

Naw, just store it as a text string.  PHP will handle the rest.

I am Chumbawamba.

John_Coltrane's picture

Hey, its still smaller than a mole (6 x 10^23) of $!

Byte Me's picture

It is now, but in a few years?

Crime of the Century's picture

Better get that mole checked, looks like cancer...

chumbawamba's picture


You don't have to be a chemisty nerd to appreciate that one.

I am Chumbawamba.

hambone's picture

Yeah, whatever...but more importantly - who's going to win American Idol next week...Lee or Chrystal?  I'm kinda pulling for Lee.  He's got that good grunge thing going but Chrystal really has a great voice.  I'm on pins and needles!!!

chumbawamba's picture

You actually know the names of the AI contestants?

I am aghast, and Chumbawamba.

RobotTrader's picture

So far, the more debt we rack up, the appetite for our bonds has become even more voracious.

To wit, note that the 30-yr. yield came within a hairsbreadth of 3.99% this morning, and the 10-yr. at 3.1%.

Thirty years ago, our debt was less than a fourth of what it is now and interest rates were driven up to 15% by the "bond vigilantes".

Seems like as we lurch from one "convulsion" to the next, investors will instantaneously flee to our gilt-edged bonds and our currency for safety.

Bond shorts have been destroyed the last two months.



Kina's picture

If the bus slows down too much it explodes. The never ending journey. Hope it is a solar powered bus, as the stock market tells us the sun is always shining.

Double down's picture

When this is over I doubt there will be any currencies left other than the USD.

That debt sealing is as fragile as a soap bubble is to a bullet.