$16,OOO,OOO,OOO,OOOBAMA!

Tyler Durden's picture




 

November 16, 2011 was a historic date: that's when the US officially surpassed $15 trillion in debt for the first time since World War 2. We celebrated it by cheering $15,OOO,OOO,OOO,OOOBAMA. Today, August 28, 2012, is when we can unofficially celebrate again, because 286 days after the last major milestone was surpassed with disturbing ease, total US debt following today's $35 billion auction of 2 Year bonds is, well, in a word: $16,OOO,OOO,OOO,OOOBAMA! 

The math?

Take today's $35 billion in 2 Year bonds.

and add this unsettled amount to the total debt...

...To get just over $16X1012 which means it took 286 days to go from $15 to $16 trillion: $3.5 billion in extra debt every day.

Alternatively take the above official Total Public Debt Outstanding, and add to this $76 billion in net new debt that will settle over the J-Hole weekend.

The result: $16.05 trillion, which is what the debt to the penny will officially show next week.

Of course this will be the total following the balance of this week's auctions. In the meantime, the US is now officially between that ceiling and a $16 trillion floor.

But wait. You aint's seen nothing yet. At this rate of growth, total US debt will surpass:

  • $17 trillion on June 10, 2013;
  • $18 trillion on March 23, 2014;
  • $19 trillion on January 3, 2015; and
  • $20 trillion on October 16, 2015

And on, and on, and on...

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Tue, 08/28/2012 - 18:22 | 2744780 Dr. Engali
Dr. Engali's picture

With al this hope going around , I'm out of change.

Tue, 08/28/2012 - 18:25 | 2744799 kekekekekekeke
kekekekekekeke's picture

it feels like only yesterday that we cracked $15,000,000,000,000 

Tue, 08/28/2012 - 18:27 | 2744810 GetZeeGold
GetZeeGold's picture

 

 

SPIKE the football baby!!!

 

Tue, 08/28/2012 - 18:33 | 2744840 flacon
flacon's picture

The more money we have the less money we have. (circa Germany in the 1920's stated by central planners)

Tue, 08/28/2012 - 19:00 | 2744929 e-man
e-man's picture

So true!  On a positive note, all we have to do is start selling Treasuries to any Zimbabwean kid.  $16 trillion is chump change to them.

Tue, 08/28/2012 - 19:18 | 2744977 Manthong
Manthong's picture

Par-tay music!

http://www.youtube.com/watch?v=N_5kv8QeBBc

Bon Scott’s death: the official cause was listed as "acute alcohol poisoning" and "death by misadventure"..

Apropos tribute for the occasion

http://en.wikipedia.org/wiki/Bon_Scott

 

Tue, 08/28/2012 - 19:27 | 2745009 The Watchman
The Watchman's picture

I'm looking forward to the point in the exponential curve when they just start adding zeros. First annually, then monthly, then daily, then every 6 hours, then every minute, then every second, then every fraction of a sec, and so on and so forth.

Tue, 08/28/2012 - 19:27 | 2745018 saturn
saturn's picture

Just wait for tomorrow, kekeke.

Tue, 08/28/2012 - 19:39 | 2745054 55 men
55 men's picture

I don't know about you guys but when i see big numbers that always means growth.

Tue, 08/28/2012 - 20:07 | 2745111 FEDbuster
FEDbuster's picture

With E-bucks they won't even have to print the trillion dollar bills like Zimbabwe did (and I was looking forward to Obama's picture on the "trill bill").  Just issue more credits on the EBT cards.  Half of America has one issued to someone in the family.  Soon the other 49% of Americans will get their cards, too.  All run by JP Morgan Chase.

Mr. EBT swiping all day

http://www.youtube.com/watch?v=o64Fz-KW1Dk

 

Tue, 08/28/2012 - 21:29 | 2745346 AldousHuxley
AldousHuxley's picture

$16,000,000,000,000,000,000,000,000,000,000

Tue, 08/28/2012 - 23:50 | 2745637 Xibalba
Xibalba's picture

I still can't wrap my head around what a TRILLION dollars is.  A million millions.  I think we're lulled into complacency because it's just an unfathomable sum.  

Wed, 08/29/2012 - 00:44 | 2745689 TruthInSunshine
TruthInSunshine's picture

If it wasn't real, it'd be insanely funny. As is, it's just insane.

 

Video of Speech where Obama PLEDGES he will cut deficit in half in February of 2009 - YouTube

---

President Barack Obama: "I Am Pledging To Cut The Deficit We Inherited By Half By The End of My First Term"

"We can not and will not sustain deficits like these without end. Contrary to the prevailing wisdom in Washington these past few years, we can not simply spend as we please and defer the consequences to the next budget, the next administration or the next generation.

 

That's why today, I am pledging to cut the deficit we inherited by half by the end of my first term in office. This will not be easy - it will require us to make difficult decisions and face challenges we have long neglected but i refuse to leave our children with a debt they can not repay. And that means taking responsibility right now in this administration, for getting our spending under control."

 

President Barack Obama
February of 2009

 

"We are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

 

Senator Barack Obama (D-Ill)
Senate Floor Speech on Public Debt
March 16, 2006

Wed, 08/29/2012 - 04:03 | 2745826 Popo
Popo's picture

It's more than half a miliion bucks for every household.

To suggest that we will pay it back is absurd.

(And the talking heads on TV are trying to spin this like the "math" is wrong, because we're dividing debt from the future by households today.   But they fail to acknowledge that debt will be even BIGGER in the future!  Facepalm!!!   This thing is absolutely going to blow.)

Wed, 08/29/2012 - 15:02 | 2747454 Sockethead
Sockethead's picture

 

 

Even if we pretend the $50+ trillion of unfunded liabilities doesn't exist, it is still absurd to suggest the debt can be paid back.  There are roughtly 114 million households, so that is $140K per.  Most households live paycheck to paycheck; $140K is an astronomical amount for the average Joe.

 

 

Wed, 08/29/2012 - 16:04 | 2747711 TruthInSunshine
TruthInSunshine's picture

Many have little savings as retirement looms

 

More than half of all workers, 56%, say they have less than $25,000 in savings, according to a survey by the Employee Benefit Research Institute.

And the strain is already starting to show up as more American actually retire. More than half of retirees, 54%, report they have less than $25,000 saved. That's up dramatically from 2006, when 42% said they had less than that.

Wed, 08/29/2012 - 08:30 | 2746050 Occam's Moistur...
Occam's Moisture Strip's picture

Check out this piece:

 

Andrew Tisch: Let's Ban the Word 'Trillion' U.S. national debt is $15,800,000,000,000. Our lingo shouldn't obscure how dangerous that is.

http://online.wsj.com/article/SB1000142405270230487030457748897216615027...

 

Wed, 08/29/2012 - 09:58 | 2746355 Blasé Faire
Blasé Faire's picture

If you averaged counting 1 number per second it would take you 507,032.335 YEARS to count to 16 trillion (to give you an idea of how unfathomable of a number it is).  How fast can we print it away?  Well, that's a different story altogether.

Wed, 08/29/2012 - 17:01 | 2747903 resurger
resurger's picture

wont be enuff to build the death star

Tue, 08/28/2012 - 20:09 | 2745120 I am on to you
I am on to you's picture

I have been waiting forever, for tomorrow to come,and when i finaly came,It had turned into, today!

I could not resist ,Saturn!

Tue, 08/28/2012 - 20:53 | 2745240 Troll Magnet
Troll Magnet's picture

YES WE CAN! YES WE CAN! YES WE CAN!

Tue, 08/28/2012 - 21:06 | 2745278 tenpanhandle
tenpanhandle's picture

from ooobama to omg-bama

Tue, 08/28/2012 - 21:31 | 2745351 AldousHuxley
AldousHuxley's picture

YES WE'RE FUCKED....YES WE'RE FUCKED....YES WE'RE FUCKED!!!!

 

YAY

 

 

USA #1.....in DEBT!!!!

 

 

YAY

 

 

 

Wed, 08/29/2012 - 01:02 | 2745700 FEDbuster
FEDbuster's picture

The urban riots will be epic.  I look at the pictures of soup lines during the first US depression, and wonder what it would be like if the 50 million Americans on food stamps had to que up each day to get their benefits. 

I the words of Jim Lahey, "The shit barometer is rising, the shit winds are coming."

http://www.youtube.com/watch?v=srq_MbsUTuM

Wed, 08/29/2012 - 03:47 | 2745819 tocointhephrase
tocointhephrase's picture

Debt BOMB Debt BOMB, YOUR A DEBT BOMB...............

Tue, 08/28/2012 - 20:42 | 2745209 Republicae
Republicae's picture

"Tomorrow I'll think of some way . . . after all, tomorrow is another day." Scarlett O'Hara

Tue, 08/28/2012 - 23:36 | 2745616 TheFourthStooge-ing
TheFourthStooge-ing's picture

nmewn posted:

http://www.youtube.com/watch?v=TWV2hlB7Ju0

That fuckin' rocks.

The red arrows are obviously from pansy asses.

Wed, 08/29/2012 - 06:57 | 2745921 nmewn
nmewn's picture

Maybe they were in the mood for classics....Hendrix, Joplin,  Herb Alpert & the Tijuana Brass...who knows or cares...lol.

Still tryin to wake up here...a strong Joe Perry riff with some wa-wa oughta do it ;-)

http://www.youtube.com/watch?v=jX-yuZFVm34

Wed, 08/29/2012 - 10:22 | 2746389 cranky-old-geezer
cranky-old-geezer's picture

 

 

What's positive about the dollars in your paycheck losing 50% of their value in the last 4 years?

What's positive about working for half the "pay" you got 4 years ago?

People think this is just a game until they see how rapidly the currency is losing value and how fast we're approaching a point where it loses all value. 

Then you'll be working for free more or less.  Yea, you'll still get a paycheck, but the dollars in that paycheck won't buy a loaf of bread.

Weimar America (currency collapse) isn't decades away.  It's months away.

Tue, 08/28/2012 - 18:33 | 2744841 Stackers
Stackers's picture

Opa !!!

Tue, 08/28/2012 - 18:42 | 2744873 Buckaroo Banzai
Buckaroo Banzai's picture

OB- OB- OB- OB- OB....OBAMA STYLE!

Tue, 08/28/2012 - 19:09 | 2744899 Michael
Michael's picture

Just had a post of mine deleted, interesting.

Too bad this thread won't get to 1000 comments because of my controversial comment being deleted and get more money from add clicks.

Tue, 08/28/2012 - 20:40 | 2745198 GetZeeGold
GetZeeGold's picture

 

 

So you're giving up? Just like that?

 

Wed, 08/29/2012 - 07:56 | 2745972 smiler03
smiler03's picture

Spill the beans! It sounds very dodgy, time to find a new unmoderated blog?

Tyler, would you ever do that?

Tue, 08/28/2012 - 21:29 | 2745344 Taint Boil
Taint Boil's picture

 

 

I don't believe Zero Hedge would do that - would they?

Tue, 08/28/2012 - 22:12 | 2745473 sadmamapatriot
sadmamapatriot's picture

Maybe it was just one of those computer things. I look forward to your posts everyday and wanted to get the inside scoop on this convention joke.

Tue, 08/28/2012 - 18:37 | 2744858 Hype Alert
Hype Alert's picture

There's a Czar for that!

Tue, 08/28/2012 - 18:55 | 2744917 Tsar Pointless
Tsar Pointless's picture

I prefer my title to be spelled the old-fashioned Bulgarian way, thank you very much.

Tue, 08/28/2012 - 19:38 | 2745046 Tippoo Sultan
Tippoo Sultan's picture

Simeon the Great...ah, yes. The good old days of the Bulgarian Empire.

Tue, 08/28/2012 - 20:42 | 2745205 CrockettAlmanac.com
CrockettAlmanac.com's picture

I thought ZeroHedge was the Bulgarian Empire.

Tue, 08/28/2012 - 21:15 | 2745303 tenpanhandle
tenpanhandle's picture

czar, tzar, caesar. kaiser, obama - all just different words for dictator.

Tue, 08/28/2012 - 18:35 | 2744836 TN Jed
TN Jed's picture

Another couple trillion and we're talking real money.  Fiat?  Oh, well screw it then.

Tue, 08/28/2012 - 18:33 | 2744838 Tsunami Wave
Tsunami Wave's picture

The first $15,000,000,000,000 is always the hardest, you know.

Tue, 08/28/2012 - 19:09 | 2744960 OutLookingIn
OutLookingIn's picture

Fifty Percent

World War II ended in August 45 = $15 trillion

If it takes half the time to double = $32 trillion in June 2045

Ain't going to happen. Will be much larger because the exponential required.

Tue, 08/28/2012 - 19:41 | 2745063 Manthong
Manthong's picture

??  Total US debt at the end of WWII was $258 Billion.

http://wiki.answers.com/Q/What_was_US_debt_from_World_War_2

Tue, 08/28/2012 - 20:02 | 2745104 malikai
malikai's picture

I think the intention was to say Debt/GDP was 100%?

That's the only thing that could make sense.

Tue, 08/28/2012 - 21:17 | 2745308 tenpanhandle
tenpanhandle's picture

when did sense become the barometer?

Tue, 08/28/2012 - 19:53 | 2745087 CaptainObvious
CaptainObvious's picture

*sniff sniff*  Those younguns grow up so fast!

Tue, 08/28/2012 - 22:14 | 2745476 NumberNone
NumberNone's picture

This is anything but Sweet Sixteen.

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