US Closes 2010 With $14,025,215,218,708 And 52 Cents In Debt, A $154 Billion Increase Overnight

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Mon, 01/03/2011 - 16:52 | 845033 Flapjackmaka
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WOOOHOOO. Bet stocks will celebrate! S/

Mon, 01/03/2011 - 17:08 | 845091 bigdumbnugly
bigdumbnugly's picture

hey hey - let me pick up that pesky $0.52

i'm sure the rest will take care of itself...


Mon, 01/03/2011 - 17:18 | 845123 TruthInSunshine
Mon, 01/03/2011 - 17:22 | 845130 gookempucky
gookempucky's picture

Food stamp recipients nearing 46 million--currently 45 1/2 million---

I smell burnt toast .......

Mon, 01/03/2011 - 20:13 | 845449 papaswamp
papaswamp's picture's at 42.9 million (latest data)....a 2.5 million jump would be huge maybe for December it will be that high since data is released some 3 months behind....or you have secret knowledge that the rest of us don't get....

Mon, 01/03/2011 - 21:33 | 845547 Meatier Shower
Meatier Shower's picture

According to the number is 44.6 million.

Either way, the number is at depression levels.

Mon, 01/03/2011 - 23:48 | 845772 gookempucky
gookempucky's picture

Corrected papa should be as latter post says at 44,5 million--snap info is 30-60 days old and this month saw many 99rs fall into the needier category.

As for the debt

The never ending flush continues as the turd will not go down.

National debt is running at 850k per minute or 51 million per hour

GDP is running at 260k per minute

This country is in the negative 590k every minute the doors stay open

Now flip those hotcakes they are burning.

Mon, 01/03/2011 - 18:52 | 845309 Econolingus
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This won't be news until it is, and at that point it won't matter

Mon, 01/03/2011 - 16:51 | 845035 What_Me_Worry
What_Me_Worry's picture

We're gonna need a bigger hat

Mon, 01/03/2011 - 17:10 | 845107 NotApplicable
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Mon, 01/03/2011 - 17:13 | 845112 Hephasteus
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Mon, 01/03/2011 - 19:54 | 845420 Rainman
Rainman's picture

...and I'm bettin' we mofos out here ain't never gonna' pay that number off ever. They got my shirt, they ain't gettin' my pajamas. 

Mon, 01/03/2011 - 16:56 | 845051 plocequ1
plocequ1's picture

Hey now

Mon, 01/03/2011 - 16:55 | 845052 Ragnarok
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For all Tea Party supporters out there (myself included), please keep a watchful eye on how the debt ceiling debate and voting unfolds.  There is no excuse for a Tea Party member to vote for raising the debt ceiling, if they do they are clearly Neo-cons and part of the problem. 

Mon, 01/03/2011 - 17:08 | 845093 flattrader
flattrader's picture

They will fall in line and vote to raise.

Boehner et al is already hip and working to counteract their intransigence.

They majority of them will fold like a cheap suit.

Mon, 01/03/2011 - 17:10 | 845105 Ragnarok
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Unfortunately I agree. Oh well, the Fed will just have to print more and I will stay the hell out of their way.

Mon, 01/03/2011 - 17:19 | 845129 NotApplicable
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And if they don't vote to raise the limit, the Squid tanks the market (a la the first TARP vote), blaming all of the disaster on Congress's inability to "Do something!" thanks to those vile obstructionist Tea Partiers.

Damned if they do, damned if they don't.

Mon, 01/03/2011 - 17:33 | 845167 flattrader
flattrader's picture

I think you're right about the Squid.  So, watch DeMint carefully.  Bachman too.

It may be an opportunity to do a good short..but, not full on retard.

I want to see them play "brinksmen", not just "chicken".



Mon, 01/03/2011 - 18:39 | 845300 KickIce
KickIce's picture

I agree.  Just watch the displeasure if the gravy train gets the axe.

It's like the old Fram oil filter ads, pay me now or pay me later.  I'm afraid the time for voluntary austerity, ie the oil change, has come and gone.  We are in need of a major overhaul.

Mon, 01/03/2011 - 23:16 | 845713 TruthInSunshine
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And if they don't vote to raise the limit, the Squid tanks the market (a la the first TARP vote), blaming all of the disaster on Congress's inability to "Do something!" thanks to those vile obstructionist Tea Partiers.


Damn straight. The Giant Rapacious Vampire Squid will hold 401(k) and pensions hostage.

It was so brilliant a move back in 2008, with Hank Paulson in on the scam, that they've put it into their official 'playbook.'

Mon, 01/03/2011 - 17:18 | 845121 What_Me_Worry
What_Me_Worry's picture

The tea party started as something great, much like our American government.  It will become infiltrated, neutured and used by those looking to sell us all down the river for their cut...much like our American government.

There will be no shortage of politicians who will pander to their cause, though.

Ron Paul or bust.

Mon, 01/03/2011 - 17:29 | 845144's picture

Aye on Ron Paul.

As for the Tea Party, the media gets it all wrong. I'll believe that Sarah Palin is a Tea Party leader when I see her scale the side of a tall ship in full Indian regalia and begin tossing the ill-gotten gains of Empire over the side.

Mon, 01/03/2011 - 17:31 | 845161 Ragnarok
Ragnarok's picture

Ron Paul or bust indeed.  I hope he declares his candidacy soon and raise more money online in one day than any other in US history.

Mon, 01/03/2011 - 17:40 | 845180's picture

Ron Paul ...raise more money online in one day than any other in US history.

And that was known as the Tea Party if I recall the sequence of money bombs correctly.

Mon, 01/03/2011 - 17:38 | 845177 NotApplicable
NotApplicable's picture

Over a long enough time line, ALL institutionalized collectives are corrupted, as they provide irresistible levers of power for unscrupulous individuals who use them to game society to their own advantage.

Step 1: Observe a grass-roots movement rising in opposition to your criminal enterprise.

Step 2a: Co-opt the movement by positioning agents with common views.

Step 2b: Agents give credence to the movement, while infiltrating/creating its chain-of-command

Step 2c: Once the agent corrals the movement, they self-destruct in a burst of foot-in-mouth incoherence. People outside of the movement will associate it with the incoherence. People inside will either become incoherent themselves (blinder wearing, dyed-in-the-wool apologists), or will lose faith and drop their support of the movement.

Step 3: Profit from the destruction.

Of course, this is just another way to say divide and conquer, the oldest trick in the book. Just as Hucksterbee kept up the noise to drown out the signal of Dr. Paul last election, so shall the Palins of the next.

Mon, 01/03/2011 - 19:44 | 845409 What_Me_Worry
What_Me_Worry's picture

So true.  Depressingly so.

Yet, Dr. Paul is willing to do what others can't.  He is willing to uphold the constitution and only uphold the constitution.  Regardless of his own beliefs, even.  He believes in sound money and giving the states the rights they are guaranteed in the constitution.

All it takes for my vote is a true love of this country and the will to live up to the constitution.  No more and no less.

I know I am in a super-minority with this viewpoint.

Mon, 01/03/2011 - 16:57 | 845058 Jerry Maguire
Jerry Maguire's picture

That's only the half of it.  Not even.  It will never be paid, and we may as well own up to it now, before things get really frisky out there.



Mon, 01/03/2011 - 16:57 | 845063 BlackSea
BlackSea's picture

Bang Dae Hoe. That's all.

Mon, 01/03/2011 - 17:00 | 845067 sodbuster
sodbuster's picture

Shit!!! I was keeping track and I had $14,025,215,218,708.55!! Now I gotta figure out where that f'n .03 went!!!


Tue, 01/04/2011 - 01:14 | 845888 mochoajr
mochoajr's picture

You might have to go back a few years to figure it out.

Mon, 01/03/2011 - 17:02 | 845068 the rookie cynic
the rookie cynic's picture

Raise the debt ceiling Austan! Repeat after me: the deficit doesn't matter, the deficit doesn't matter, the deficit doesn't matter...

Cheney for President! Oh wait, he already was.

Mon, 01/03/2011 - 17:02 | 845075 HarryWanger
HarryWanger's picture

They'll raise the debt ceiling as they always do. And, as a poster, I believe cynically stated above, the deficit doesn't matter. 

Mon, 01/03/2011 - 17:05 | 845083 bob_dabolina
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...until it does

Mon, 01/03/2011 - 17:08 | 845092 tmosley
tmosley's picture

No, no.  Until its TOO LATE.  Which is already is.

Mon, 01/03/2011 - 17:09 | 845102 EscapeKey
EscapeKey's picture

That's right, because historically, no nation with an out-of-control deficit has ever hit the skids.


Mon, 01/03/2011 - 17:18 | 845126 101 years and c...
101 years and counting's picture

apparently, some believe that an increasing deficit during a period of increasing rates is somehow positive.  and, the only way to keep rates in check is to print money, destroy the dollar...and inflate the middle class into poverty.

nevermind.  harry has a 14 person operation in Minnesota that says the economy is surging.  LMFAO!!!


Mon, 01/03/2011 - 17:13 | 845116 Sudden Debt
Sudden Debt's picture

They'll raise it for sure.

But I've heard they actually hired a Broadway producer to make it look more dramatic this time.

Rumor has it that there will even be real tears.

Mon, 01/03/2011 - 17:16 | 845120 flattrader
flattrader's picture

Yes.  Real tears.

Boehner is gearing up to go on a crying jag.

Mon, 01/03/2011 - 17:49 | 845205 JohnKing
JohnKing's picture

He'll also mention "body armor" and "jobs".


The Foxheads will begrudgingly shake their heads in agreement, yes, it's  "for the troops" and keep on keepin on.

Mon, 01/03/2011 - 17:23 | 845128 hedgeless_horseman
hedgeless_horseman's picture

They will raise it to help American families and small businesses!

In politics it's not what you say, but how you say it.

Tue, 01/04/2011 - 01:53 | 845928 Hephasteus
Hephasteus's picture

I've heard of realtears. Isn't it 10 percent real tears and 90 percent salty water?

Mon, 01/03/2011 - 17:44 | 845164 P Rankmug
P Rankmug's picture

Just think of the debt ceiling as Mr. Creosote.

"Finally Monsieur, a wafer thin mint."


"Sir, it's only a tiny little thin one."

"Fuck off, I'm full."

"It's only wafer thin."




Mon, 01/03/2011 - 18:44 | 845317 Id fight Gandhi
Id fight Gandhi's picture

Good thing you know everything

Mon, 01/03/2011 - 22:43 | 845658 DaveyJones
DaveyJones's picture

"the deficit doesn't matter." Thank you Dick Cheney. Now that's a man to emulate. You're right Harry, it just like re-entering the atmosphere, math doesn't matter.  

Mon, 01/03/2011 - 17:03 | 845077 cossack55
cossack55's picture

My ceilings got a hole in it and I might drown

Mon, 01/03/2011 - 17:07 | 845094 Bearster
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I had someone call me a Know-Nothing, Klansman, John Bircher, McCarthyite "extremist" today over this issue.  It doesn't bother me (and I've been called worse).  Hopefully the incoming Tea Partiers also don't care about such names and stand firm: balance the #$*! budget (by cutting spending!)

Somehow I am not holding my breath.

Mon, 01/03/2011 - 17:08 | 845096 Sudden Debt
Sudden Debt's picture

Eurozone and US figures - sources: CIA, Eurostats, AP, ECB, US Treasury, US BEA, Wiki. All in US$, year 2009:

US 14 Trillion
Eurozone 9 Trillion

Gov. Debt
US 12,9 Trillion*
Eurozone 9 Trillion

Gov Deficit
US 1,4 Trillion
Eurozone 0,7 Trillion

Current Account Deficit
US -420 Billion
Eurozone -70 Billion

*Fannie Mae and Freddie Mac obligations excluded. On- or off-balance sheet obligations of those two independent GSEs was $5 trillion at the time the conservatorship was put in place


The EU might be going down the shitters, but so is the US boys.

Mon, 01/03/2011 - 17:22 | 845131 A Man without Q...
A Man without Qualities's picture

The official GDP of the Eurozone is actually about 9 trillion Euros, so in Dollars terms about $13 trillion at 2009 exchange rate.  I'm not sure if I believe any of the GDP numbers though - you can easily cut about $3 trillion of bullshit fudges from the US numbers, and I've never trusted what comes out of France or Italy...

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