This page has been archived and commenting is disabled.
Total US Debt Hits $16,369,548,799,604.93; Debt Ceiling Just $63 Billion Away
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:
»
- 26250 reads
- Printer-friendly version
- Send to friend
- advertisements -
180 dollars per US citizen....CASHFLOW BABY!!!!FUCKING A!!!
Tylers you will likely need to update the post as we pass the debt ceiling later today
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!
:) hehehehe, you said Doo doo :)
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?"Debt Ceiling Just $63 Billion Away"
Thats 16 days!
Happy Holidays MoFo's!
Dick Cheney had it right - "Debt doesn't matter"...
This is a sideshow...
Carry on...
Obama got his campaign slogan wrong. It should have been UPWARD!
or "LEAN Forward"
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
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.
Debt Ceiling...like, 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.).
should i drop the ball now.....
$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?
Tantric Economics. That vinegar stroke is a long way off yet.
but the colonoscopy with a hairbrush is next
And to rid that financial system of its VD, the metal rod umbrella....this is going to be painful.
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
I think it will last until December 21st. Mayan Debt Ceiling Apocolypse, bitchez!
Franceis supposed to be the 'safe'place...at least from homework...
@Pladizow,
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.
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.
16 days! It would be awfully close to the 12/20/2012 Mayan prophecy, isn't it?
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.
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.
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.
"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.
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!
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!!!
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.
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
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!!!!
Not high enough.
We need to get to a nice round $1,000 Trillion.
A black prezz borrowing beyond his means.... Who would have guessed
you'll need to cut holes in your pillow case to see where you're going
Ungood
MOAR auctions!
OH well don't worry about that....I'm sure the govt can solve it by 'compromise'...AKA 'BOHICA'.
I see it as being $26 Billion away, not 64 (16.394 less 16.369)! Oh well, that's public school education for ya!
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!
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: http://www.treasurydirect.gov/govt/govt.htm
I wuz edjacated in pulik skool and seems to me that this report sez we r rich!
1 month and the accountancy tricks will be needed to pospone the joke of the year to continue into 2013
Nicely written summary. Breif and to the point.
The world is a joke
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
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.
the beast is on the gobble
and all that matters is we're all headed for it's belly
http://youtu.be/ntmthFyaYzY
Hey, woggie:
http://www.youtube.com/watch?v=fk1bclLKUmA
"There's so many people who can talk and talk and talk and just say nothing..."
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...
Aw, shucks, I thought we had 'til March...I don't think $63B is going to last that long.
Dec 15th is another quarterly estamated payment due date as well as a due date for November payroll and withholding taxes for small businesses, so they will get a bump from that. And then again on Jan 15th for the second of those, so I would guess with the inflows and gimmicks, they can make it until March.
Yah.
Well, I know it's simple-minded and all, but they should really just stop paying our politicians and contributing to the pension fund until this is fixed. If you hire someone to do a job and they won't do it, they don't have any legit demand for payment.
Timmah can spend $63B in an afternoon.
you know what's crazy? i don't think a majority of the sheeple out there realize how fucking difficult it is to spend that kind of money (at least in terms of material goods) - when you're talking about 'social programs', that shit goes fast. fun fact: 63 billion dollars could buy you 5700 nights or so in a $20,000 / night hotel...(if my math is right, which it may not be, but i think you get the idea).
Yes, the amounts are loony now. Where does it all go? We're propping up the US based on nothing but bs, obviously.
It is spent at the Grove on hookers and blow.
Actually 63 billion dollars would pay for 8630 years @ $20000 / night. Better prepay and hope your hotel survives empires changing.
with 10 billion dollars of CapEx I can create well over 200,000 direct permanent jobs in a developing market, unless I were lazy and concentrated on a few high dollar investments in capital intensive industries
so what is the US getting for $63 billion- not one job created, just a perpetuation of the status quo.
when the US government exercised both the power of the purse and control of the regulations- they spent a 1,000,000 millions of dollars and actually created how many jobs? (Even in the most CapEx intensive US energy sector jobs cost less than $1,000,0000 each)
even the corrupt and inefficient EU Bankster apparatus can retire $20 billion of Greek debt for only $10 billion and have enough left over to grossly enrich themselves in the process (although to be fair they aren't creating any jobs with their "investment" either)
The US really is the most WASTEFUL nation on earth.
When you put It like that Urban I am inclined to belive we (the US) are headed for some pain and discomfort, the question is when will interest rates go up?
Interest = the force multiplier
The US really is the most WASTEFUL nation on earth.
Ever. The most wasteful ever.
Yeah, Well another way to look at it is that it would put up 3,150,000 folks for one night in a $200/night room. You do realize that there are 47 million on food stamps, right? No one really grasps the depth of our problems.
Your math is a little incorrect. $63 Billion will buy you 3,150,000 nights in a $20K/night hotel.
Debt ceiling will be bumped up to $21 trillion at least....which according to my publik skrool maths tells me we presently got a $5 trillion SURPLUS!
OMFG WE DID IT!!
I find it quite interesting that the debt ceiling seems to coincide with the amount of "money" created by the Federal Reserve in secret bailouts. Interesting. Causation/Correlation cuntz!!!! I mean bitchez.
Should i still go Christmas shopping or should i hold off?
Hold off. I've read mark downs of 75% after the holidays.
Sears might just auger in come early 2013.
Sounds bullish?
pods
At this point in time who really cares, just more political bread and circuses to divert the attention away from the total meltdown of Global society
It is all horse manure
The GOP will cave.
The skin they are worried about is their own
I believe infinity is a perfectly reasonable number for the debt ceiling.
"Thats a lot of zeroes"
Kung Pow (paraphrase)
http://www.youtube.com/watch?v=T7W3gd7gJUw
Geitner can fudge the numbers for another 100 billion so as not to go over it...he borrowed from Social security last time I think....plays the game..
How is that different from what we usually borrow from the SSTF? Or is it as Bruce said earler: one is dollars, the other is paper?!?!?!?
Uh..one problem. That payroll tax cut has been eating into any surplus the Social Security Fund may have had going for it in the past. You see math is so fucking hard for Obama and no doubt Timmy knows a little math or he would not have made the proposal to add the debt ceiling change to the Fiscal cliff deal. Tax cheats know how to do the math they just choose not to pay the man.
63 billion$ Could Nancy Pelosi have enough to spend with that for a single day?
Facelift's ain't cheap.
http://dorisbrazil.files.wordpress.com/2009/11/facelift.jpg
The sky craper has many floors, with on every floor the same arguments. Tomorrow the elevator will be fixed.
God, do I hate sky crappers!
No wonder you don't like AnAnus.
'the fiscal cliff', 'fiscal cliff', 'the cliff' is mentioned at least once in every two sentences on CNBS these days. at what point can it be construed as psyops?
Waiting for the day they have colors to express the current threat level of fiscal cliff at any given date.
When it's a level RED day, the government can't issue cheques LOL
CNN is running specials already so I'm thinking we're not that far off.
They would have to take the color levels into the gamma-ray region to express the appropriate threat level.
It is "psyops". They want to terrify the sheeple so that their austerity plans look benign by comparison.
it's only clownbux
I keep telling everyone that BernaxBux & tnotes are just like Doritos.
Munch all ya' want, becauseThey'll make more.
Congress should just eliminate the debt ceiling altogether - Turbo Timmy Fuckface
63 billion left
13 billion per month just to SERVE FUCKING INTEREST TO THE BANKERS
that is where your money is going, BOHNERHEADS!
At some point this shit is going to get serious.
At some point...or at some print?
Wait, Tylers, your assertions concerning the debt ceiling have become too shrill. It was only a short while ago that you cautioned, warned, extrapolated and/or predicted the ceiling was likely to be breached at or before election time, thus assuring that Obama would suffer election defeat and "one term" humiliation.
In the event, Obama creamed Romney and is now stockpiling political ammo such that he's likely to dodge receiving the lion's share of the blame for whatever msm tells the masses about the fiscal cliff deal or lack thereof.
Furthermore, last I checked, there's growing confidence that legislated debt ceiling limitations are unconstitutional and cannot be enforced.
Why not focus on excess defense spending and too many tax breaks for wealthy individuals and for corporations, instead? Those topics are more worthy of ZH fire and brimstone than the freakin' debt ceiling.
agreed,
... cut defense immensely. We don't need these bases/forts/ports all over the World
... flat tax, bitchez
... cut out tax breaks for corporations but also reduce corporate tax rates - it just get's passed through to the consumer anywy and the people pay it.
... eliminate public sector unions - set standard rates of pay for every govt. job
... eliminate govt. pension plans - let them contribute to their own retirements like everyone else
... eliminate govt specific healthcare plans - let them pay into a plan like everyone else.
... make all govt. employees pay flat income tax also - they need to feel the pain everone else does
... eliminate all the bullshit entitlement programs - charitible organizations can take care of the people
... set up fair import fees that level the playing field with foreign wages against our own
... shut down all the psuedo govt./private oragnizations (fed', fannie mae, etc.)
the list can go on and on and on
Everyone has a plan. Yours sucks.
Hmm, are you one of them gummint worker dronez?
Everyone has a plan until they get punched in the mouth. Mike Tyson
Everyone has a plan until they get punched in the mouth. Mike Tyson
strawman du jour.
Last time I checked "Congress shall have power...to borrow money on the credit of the United States." What is so difficult to understsnd there? Unless your proposing no limit but each and every item individually go to Congress.
We don't have the value out to more than two decimal places?
Wake me when it gets to 50% of tax revenues to pay the interest so I can start to buy SPAM by the case (you PM hoarders will like to know that I have already seized on a price of 1 gold coin per SPAM can). Wake me again at 75% so I can unlock my bunker, fire up my perimeter cams and check my ammo stash...
Can you put me on your phone tree? Thanks
Dear Neoserf,
May the odds be ever in your favor.
Look out for bow and arrow girl, I hear she's deadly.
I suggest you unlock the bunker and fire up the cams early. This is one party you do not want to be late to.
Dollar Collapse Update: Fed Buys 90% Of New U.S. Bonds, CHINA Overtaking US As Global Trader, And The Global Economy Has Done A Complete 180, Now It’s The US’ Turn To Be Weak.
http://investmentwatchblog.com/dollar-collapse-update-fed-buys-90-of-new-u-s-bonds-china-overtaking-us-as-global-trader-and-the-global-economy-has-done-a-complete-180-now-its-the-us-turn-to-be-weak/
"CHINA Overtaking US As Global Trader"
Stay off the drugs. We are all going down the toilet together, China may just blow apart first.
The pain train is coming, best take it...
TIS,
Looks like a price collapse in China, with oil inflation sprinkled on-top. I suspect HK, Nikkei there will be shorts lining up, even Abe's lets print to oblivion...may be just that. I think China is melting down fast i.e crash.
If commodities collapse significantly and QEInfinity cannot boost them...
Endgame.
once you jump the shark you can never jump the shark again so party on with obama ghetto economics!!!!
Obama is insane in the membrane:
http://youtu.be/19GVK6goeu4
At least 125 billion of that figure is not subject to the debt limit (fed financing bank, some bonds, etc). Not that the 125 B changes anything except the exact timing.
The debt goes up by only $5T ($16T to $21T) in four years? I had no idea Tyler was an optimist! That's the best case number (debt going up by ~5% a year..
No doubt the tax bump will help in 2013, but by 2014 the recession, tax accountants and a mobilized wealthy will erode tax income at the same time the wheels come off as the pace of stimulus increases.
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.
Exactly...and history rhymes....the question is did they ever replenish what they took the last time? Or is this going to be yet another case of vaporized....
And the Rothschilds smile... :o)
Afterall someone is getting interest on all this debt...
Right....?
The Rothschilds are not interested in money, they have all they need. They are smiling because when the bottom drops out priceless things (think art, real estate, jewelry, artifacts ...) things that have not changed ownership in generations, will suddenly be for sale.
yeah, but priced in what? how much bread can you barter for a picasso? the Rothschilds et al are sitting on a shit pile of paper that is about to become worthless.
Best wealth redistribution for all is to pull the plug on the current fractional reserve banking game. The reason it's not happening is so that they don't fall off their thrones.
The day that real assets and real talents matter and get paid accordingly is the day that we are truly free.
'Double`entendre, vis-a-vis 911 and the greatest Diversion Artist of all... 'Nationalizm'?
and guess who won? -- those who control the 'eyes'!
Let's just play beers on the wall until somebody refills the ceiling.
Sixteen trillion three hundred sixty nine billion five hundred forty eight million seven hundred ninety nine thousand six hundred and four bottles of beer on the wall, sixteen trillion three hundred sixty nine billion five hundred forty eight million seven hundred ninety nine thousand six hundred and four bottles of beer!
Take one down, pass it around, sixteen trillion three hundred ninety five billion five hundred forty eight million seven hundred ninety nine thousand six hundred and three bottles of beer on the wall!
This song works different from how I remember it as a kid...
I was thinking more like 63 billion beers, the way we spend money around here it's about a billion beers a day. Since we have about 63 billion till the ceiling drops out, again, at 1 billion a day, it would only takes 63 days of singing before the SHTF and checks stop arriving. Your systen of checks it would seem, never stop arriving.
So the 64 Billion Dollar Question, I know.... No inflation exists. When do we cross the Rubi., uh the abyss?
Gold at $3000 a physcial oz. What the heck just happened here?
http://www.ebay.com/itm/261133905533?ssPageName=STRK:MEWAX:IT&_trksid=p3...
Watch it ramp when everyone realizes the US is defaulting by paying back in US chump dollars.
yea, I think if you are a one career wonder that has lost a job, you could be in that boat. I for one, have enough talents to use when needing money, which is not often.
"Over the cliff to grandmothers house we go..." Happy Holidays!
One day soon we will all be millionaires, i.e., that will be our share of the government debt.
Full disclosure and fair warning, I'm already planning to default on mine, and you'll never find where I hid the gold. That means you Timmah.
And going much higher. Neither the democrats or GOP are serious about reducing the deficit. Just more money for their supporters.
Let's see if Fitch, Moody's and S&P reflect the non-seriousness of the US politicians with regard to addressing the ever-increasing deficit. See if these credit rating agencies are as corrupt as they are made out to be.
Within the next 2 years the deficit will be over $20 trillion. Obama is all for removing deficit ceilings and going on a spending spree with the reserve currency's credit card with no limit.
End of 2014 and it starts getting declined.
The narcissists in DC can't see past their UScentric noses.
I guarantee the ratings agencies will downgrade the US debt. It's just a matter of who takes the blame again this time.
When the US is spending a trillion more than we tax the agencies can no longer ignore that fact. We have a spending problem and leadership in this country is afraid to tell the truth because they know they would not get re-elected.
Ratings agencies will not ignore the truth in the math.
The debt ceiling is as real as the tooth fairy.
Solve this problem. All those intragovernment holding of debt? Null and void.
including Fed holdings of Treasuries, Fraudie and Funny? ack Freddie and Fannie I mean.
Is it a ceiling or a cliff? I haven't been following the news much lately after the election.
To be able to post here I had to take a Math Quiz.
Someone here cheated.
16,394 - 16369 = 25 Billion
what are you saying? being a millionaire isnt cool anymore?
Its troubling to see a 100+ year financial treason by international banking terrorists go unpunished.
Now add the unfunded liabilities that the government likes to ignore to the figure and the debt blows out , according to Gary North, to over $220 Trillion and growing at around $1 Trillion per month...mmm...and interest free ths would cost every working American $200,000 per year for 20 years, when the average income is only $50,000..Houston we have a problem.
Today's government is not liable for things to come or things past, in their mind, of course. And god forbid someone tries to take on the fiscal issues, they will be killed. No one wants to hear that the US is broke and Americans today have no clue about economics matters and finance. Truth hurts and won't get you elected.
There will be no Hyperinflation as long as the Fed buys the bonds.......but eventually it will get to a point when the the USA govt says 'Fuck it'.....all Fed notes to be replace by non debt Govt notes......the Govt doesn't need to borrow thin air currency from a zerox machine at cost plus interest.......
There may be a few murders because of this but it will be in the best interest of the country......a Statesman will always get killed...a politician never....
i'm tired of all this bullshit
Just break the system already
Why not get rid of the debt ceiling? TG wants to see it go anyways....
This is all such a joke! An American joke!
A floating Gold price could solve it.....but due to the figures it would have to be massive....and i mean a massive one time devaluation of paper US notes against Gold at the Treasury......then the USA Govt is Solvent.....and the more they print...the higher Gold goes.....
Your momentum will cause you to continue riding on the new board, The 360 is a great trick on the wave good cheap northface warm enough board, On this trick you need to whip the back wheel around so it is in front and then immediately whip the front wheel (which is now in back) back around to complete the 360.