Total US Debt Hits $16,369,548,799,604.93; Debt Ceiling Just $63 Billion Away

Tyler Durden's picture

And so the US debt ceiling of $16.394 trillion is now just $63 billion away.

Furthermore, once Thursday's Bill auction adds another $26 billion in net debt, the ceiling will be a tiny $40 billion off, or just one week's worth of net debt issuance away, which is why the Treasury just warned the debt ceiling will be breached in a few weeks. At that point, just like in August 2011, the Treasury will have no choice but to start raiding the G-fund, and other sundry government retirement funds, until such time in February or latest March, when the debt ceiling debate, and hike, can be no longer postponed.

Most importantly, since the debt ceiling is still in place, all wishes by Timmy G and other believes in Magic Money Trees notwithstanding, this is the one true deadline to get a joint Fiscal Cliff-cum-debt ceiling deal done. Which also means that despite all hopes to the contrary, it is now a virtual certainty that the US will enter 2013 without a Fiscal deal done, and will delay until the last possible moment, when America will have to once again add $2-3, maybe more, trillion to its debt ceiling, probably taking it as high as $21 trillion, which is where it will be by the time America will be preparing to usher in the next Wall Street pawn also known in polite circles as "president."

Below is a chart of US debt/GDP under the current adnimistration:

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Sudden Debt's picture

180 dollars per US citizen....CASHFLOW BABY!!!!FUCKING A!!!

Zer0head's picture

Tylers you will likely need to update the post as we pass the debt ceiling later today

Clueless Economist's picture

Do Americans know more about what Honey Doo Doo and the Khardasian Sluts are up to or our ruinous level of debt?

We are so fecked up!

Sudden Debt's picture

:) hehehehe, you said Doo doo :)

TruthInSunshine's picture

63 Billion?

That's pocket lint (inside that little pocket that's inside the bigger pocket in your jeans), bitchez.


24/7/365 Government Bodega- What'chya' Need, Bitchez?
Pladizow's picture

"Debt Ceiling Just $63 Billion Away"

Thats 16 days!

Happy Holidays MoFo's!

MillionDollarBogus_'s picture

Dick Cheney had it right - "Debt doesn't matter"...

This is a sideshow...

Carry on...

krispkritter's picture

Obama got his campaign slogan wrong.  It should have been UPWARD!

SafelyGraze's picture

we need to go ahead and approve the principle of unlimited debt-ceilingness *NOW*

otherwise, we will be unable to pay when interest on treasurys adjusts to 18%

in that case, congress would have to raise the ceiling every week or day or hour

which would be a terrible waste of time for our elected lawmakers, impeding their ability to get back to work doing the people's business


Popo's picture

Politicians are just professional spenders.  Does anyone think for a nanosecond that they're going to vote to give up the only power they have?   Please.    At least the Democrats are openly spenders.  It's the supposedly small-government, fiscally conservative Republicans that are the biggest jokes.   

Go ahead and show us whether or not you have any balls, Republicans.    

If they allow us to go over the cliff I'll vote Republican.   Otherwise, they're pathetic spineless weasels who pretend to be conservatives.

TwoShortPlanks's picture

Debt, I can just raise the ceiling at my place too. Ceiling isn't the proper name.

How about Initial Estimate of Debt (I.E.D.)?

That goes well with other famous acronyms such as War of Mis-Direction (W.M.D.) and the European Servitude Mechanism (E.S.M.).

smlbizman's picture

should i drop the ball now.....

caconhma's picture

$16T or $50T, it doesn't matter anymore.

America has crossed the Rubicon a long time ago. What matters? When and under what circumstances a default/ bankruptcy will take place?


TwoShortPlanks's picture

Tantric Economics. That vinegar stroke is a long way off yet.

prains's picture


but the colonoscopy with a hairbrush is next

TwoShortPlanks's picture

And to rid that financial system of its VD, the metal rod umbrella....this is going to be painful.

Dapper Dan's picture

 MDB,  I begrudgingly agree,  at this point 60 million, 60 billion, 600 billion, who cares,  it should never have exceeded 6 trillion to begin with.   never, never, fucking never.

Debt driven Capitalism is and has been the optimal system to promote exponential growth. Resource depletion, over population, environmental degradation, are just a few of the detrimental results. A version of capitalism is what every Country around the world uses to juice growth, even communist China. Silly people think they can control capital, LOL!

"Sometimes I wonder whether the world is being run by smart people who are putting us on... or by imbeciles who really mean it." - Mark Twain

XitSam's picture

I think it will last until December 21st. Mayan Debt Ceiling Apocolypse, bitchez!

eatthebanksters's picture

Franceis supposed to be the 'safe' least from homework...

Muddy1's picture


Nothing to see here, tax buffoon Tiny Timmy will just raid the federal employees "G" fund to keep on spending.  If necessary, he'll delay federal payments into the federal employee retirement system.  You see, federal employees are the Beta test site for the upcoming raid on private retirement accounts, aka 401k, etc., and etc.

eatthebanksters's picture

I used to think Geithner was just corrupt, stupid and arrogant.  Now you can add submissive asswipe to the list.  That dude has a nose that's browner than my butthole.  I gotta hand to Obama, he gets high level people to fall on grenades for him better than i've ever seen. I wonder what he promises in return?  SecState to Rice? Maybe a job as Dimon's money counter for Geithner?   I'm looking forward to the day he gets turned down.  BTW, does anyone know why Obummer selected Rice to deliver the lies on Benghazi?  Because our UN ambassador had no clue what really went on and was a black female...untouchable from a political standpoint (unless you're Alan West or Herman Caine) and plausible deniability.  This administration might be better than Goebbels at managing propaganda.

Mine Is Bigger's picture

16 days!  It would be awfully close to the 12/20/2012 Mayan prophecy, isn't it?

hooligan2009's picture

21 december 2012. although its just a calendar date and the start of a new cycle, the mayans believed the world will end in a flood. perhaps they worked out that fed liquidity and space travel have a lot in common when dealing with very large numbers.

yogibear's picture

You ain't seen nothing yet! 

Bernanke and the fed buying up all debt with his money from thin air and Obama spending like a drunken sailor.

Devaluing each US dollar as time goes on.

The US will pay back it's debt in worthless dollars. Any international investors in US treasuries or debt are fools.


caconhma's picture

Chinese are not strong military yet to initiate an American default now. Chinese are implementing a crash program building their military capabilities.

After all, the time is on their side: China’s economy is growing and American economy is becoming less and less productive and more and more fragile, unstable, and vulnerable to a collapse.

Muddy1's picture

"Obama spending like a drunken sailor"  No just a damn minute, I'll not tolerate you badmouthing the sailors of the US Navy.  You can apologize to all sailors, and veteran sailors, or you'll geta keelhauling you will.

Renewable Life's picture

I'm more of a silver guy then gold bug, but this shit is going to get crazy either way, when the global transition to a new reserve currency begins, its going to be VERY chaotic!! Gold and Silver could be up 1000% in swings until it all levels out!! $300 an OZ silver and $12-$15,000 an OZ gold could NOT be out of the question, but realize it will be VERY chaotic, most likely involve multiple global war scenerios or major scares, major hoarding of resourses on a national level and export bans, massive swings in commodity prices, etc etc

Point being, you DONT want to buying on the way up in this deal, the clock is ticking, get fully invested in what your capable of buying right now! I like silver over gold for ONE reason only, and that is, the governments around the world are going to try to offset the panic and flight to gold, with ALL kinds of bans, purchasing limits, bans on transactions, etc etc Silver on the other hand is basically a commodity with corporate and industrial uses first, and then is also used as a monitary use, gold is vice versa and will be easier to attack! But either way, its all going to be up, up, up!


Sudden Debt's picture

yeah... expenses and all...

but if they agree to do spending cuts in the year 2208, all will be fine and there will be more room to "MANEUVER"...
All it needs is a 500 million conference to talk about it, a 800 million PR campaign and LOT OF COOLAID!!!

walküre's picture

It's irrelevant. Greece has THE DEAL to reduce their debt to 120% debt/GDP by 2024.

We are not anywhere near 120% yet and can shoot that much higher, then reduce it back in a matter of a decade or two or three.

Who cares? All just fucking ridiculous numbers in a fucking computer on a fucking virtual balance sheet. Has absolutely no more meaning to me and shouldn't bother anyone else either. The numbers are pure entertainment at this point.

The "cliff" is the least of their worries. Keeping up appearances a.k.a. the BIG ILLUSION is much more pressing.

Bindar Dundat's picture

The  $16 Thrill is nothing compatred to the debt of the states and municiplaities and the unfunded pensions and social care.  Maybe anotha $ 100 Trill..or so.....


Your fucked yankees

stocktivity's picture

Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Ten of those times have occurred since 2001.

It will just continue to be raised. As long as the printing of money out of thin air can continue to kick the can further down the road, It's all BULLSHIT!!!!

Clueless Economist's picture

Not high enough.
We need to get to a nice round $1,000 Trillion.

max2205's picture

A black prezz borrowing beyond his means.... Who would have guessed

prains's picture

you'll need to cut holes in your pillow case to see where you're going

SheepDog-One's picture

OH well don't worry about that....I'm sure the govt can solve it by 'compromise'...AKA 'BOHICA'.

rguptatx's picture

I see it as being $26 Billion away, not 64 (16.394 less 16.369)! Oh well, that's public school education for ya!

lolmao500's picture

Yeah. I don't know how he does his math.

At the rate of about 3.44 billion a day, the debt ceiling should be hit around December 7...  Geithner will start raiding the pension funds this week-end!

Nostradamus's picture

Tyler didn't explain this, but a small portion of the total public debt isn't subject to the debt limit.  The amount subject to the limit as of 11/30/2012 was $16,330.9 billion.  That's where he was getting the $63 billion from.  You can see this information here:

Zap Powerz's picture

I wuz edjacated in pulik skool and seems to me that this report sez we r rich!

Sudden Debt's picture

1 month and the accountancy tricks will be needed to pospone the joke of the year to continue into 2013

VonManstein's picture

Nicely written summary. Breif and to the point.

The world is a joke

azzhatter's picture

That fucking Keebler Elf cocksucker Geithner was on TV yesterday telling us what a job they have done cutting spending. I'm sure it will show up next year

Zap Powerz's picture

What do we have to show for all that debt?

It would be ok to be 16 Trillion in debt IF we were buying something that was worth more than 16 trillion dollars in value that we could then sell, pay of the debt and pocket the cash.

But that whole idea is based on an erroneous assumption:  that the debt was for "us" in the first place.  That debt exists to make "us" poor and a few dicks very very rich.

woggie's picture

the beast is on the gobble
and all that matters is we're all headed for it's belly

Pool Shark's picture



Hey, woggie:

"There's so many people who can talk and talk and talk and just say nothing..."




A Middle Child of History's picture

Hickory dickory dock,
Out slithered Woggie from under his rock
To post anew on an article or two
The same tired and worn out schlock.

Woggie/Woggieford/Will Ling/etc., likes to post the same shit on about half a dozen other sites under multiple aliases. Some of us actually have to earn a living and do not have the luxury of that kind of free time. But I am going to hound this moron wherever he appears until he disappears.

Go slither back under your rock asshole...

blunderdog's picture

Aw, shucks, I thought we had 'til March...I don't think $63B is going to last that long.