Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

Tyler Durden's picture

Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.

It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the "benefit" of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.

And now we wait for the US to become Spain, and add the estimated "contribution" from hookers and blow to GDP, once again pushing the total debt/GDP ratio below the psychological 100% level.

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Rainman's picture

Free Shit Army Maximo !

Shaznardickleze the Doon's picture

and fapping to porn at work. Only if you're gubmint though.

crusty curmudgeon's picture

"this is a positive thing.  public sector debt = private sector savings."

Yeah, it's kind of like if I sell the government counterfeit currency for its gold.  It's gotta be good because it increases private sector savings.  And I'd appreciate it.

drendebe10's picture

....fuk da gummint....fuk da elected ruling politucal turds... fuk da fudgepacker in chief most of all...

jubber's picture

No mentions from any of those  fucking pricks who infect CNBC worldwide, nothing

SoberOne's picture

Weeeeeeee! Not my debt, I didn't sign for it.

orez65's picture

"Weeeeeeee! Not my debt, I didn't sign for it."

You live under a REPUBLIC not a DEMOCRACY.

Doesn't matter if you didn't sign.

Your representatives can sign you up as collateral.

You are responsible for every bit of those $18 TRILLION dollars.

You should review the US Constitution.

Stoploss's picture

You live under a REPUBLIC not a DEMOCRACY.

Prove it.......

The Wedge's picture

Representative Republic. We elect reps to make decisions for us. That's pretty much the definition of a Republic. You can make an argument for it's subversion etc. but it's still a Republic. I miss intelligent commentary on the Hedge.

cheech_wizard's picture

I still hate my long dead ancestors for even coming up with the notion of democracy.


Chupacabra-322's picture

You live under a Criminal Fraud UNITED STATES, CORP. INC. Sold out in 1871. You're Soul (Birth Cert) is a Traded Bond used as collateral to pay back the Debt via the Bankruptcy of 1933.

Trucker Glock's picture

Sold out on June 21, 1788.

"To borrow money on the credit of the United States."

ejmoosa's picture

It's gonna matter when you try and force me to work so you can collect it.

Because when that day occurs there will an uprising that makes the American Revolution look like a church meeting.

winchester's picture
winchester (not verified) ejmoosa Dec 2, 2014 7:45 AM

man ,wake up, you work for what.... for who... you receive money for something you do, make, build, assembly, create....


liberty is when you work for yourself and owe nothing to noone and do not use money.


u are a slave  just like anyone else, stop thinking you are free and superior.

29.5's picture

Well technically, a social security number is not required to be an American. So what if you didn't have one? What if every person who claims to be independent didn't participate? 

orez65's picture

"Weeeeeeee! Not my debt, I didn't sign for it."

You live under a REPUBLIC not a DEMOCRACY.

Doesn't matter if you didn't sign.

Your representatives can sign you up as collateral.

You are responsible for every bit of those $18 TRILLION dollars.

You should review the US Constitution.

Voicefather's picture

This is clearly a lie, because I have it on authority from Barrack H. Obama himself that he cut the deficit in half for 2014.

giovanni_f's picture

what he meant to say is that he cut the deficit in half that the republicans would have made.

Billy the Poet's picture

No, what he meant -- what they always mean by a "cut" -- is that they didn't increase spending as much as they wanted to increase it.

Big Brother's picture

I have to track my R&D at work.  Hopefully, I won't have to track my hookers and blow consumption too.

ebworthen's picture

"Thar she blows Cap'n!  Off the port bow!  The White Wale!!!"

mt paul's picture

white whales...

Glass Steagall's picture

I can remember back in the 90's, people clammoring that when the national debt hit 6T, we would have surpassed our ability to service the debt...

Seems like lifetimes ago... 

Surging Chaos's picture

There were actual interest rates back in the 90s.

Not now in today's world of ZIRP.

Bohm Squad's picture

Or when they had to add another digit to the debt clock???  I'm guessing we'll revisit that problem again some time soon...

ILLILLILLI's picture

You just *know* if The Tribe isn't getting their cut of the skim during ZIRP, they're getting it some other way.

TeethVillage88s's picture

Well it all adds up:

Total--Interest on the Public Debt, Table 5 Monthly Treasury Report

2014 Total--Interest on the Public Debt = $429.568 Billion
2013 Total--Interest on the Public Debt = $415.670 Billion
2003 Total--Interest on the Public Debt = $318.149 Billion
2002 Total--Interest on the Public Debt = $332.537 Billion
2001 Total--Interest on the Public Debt = $359.508 Billion
2000 Total--Interest on the Public Debt = $362.118 Billion
1999 Total--Interest on the Public Debt = $353.511 Billion
1998 Total--Interest on the Public Debt = $363.824 Billion

ejmoosa's picture

They were right.  We cannot service the debt any longer.  We had the Fed manipulate the rates to near 0, and we sstill cannot service the debt.  We are borrowing money to pay the interest.

This despite, a record federal tax haul.

And they wonder why companies are not hiring or increasing wages...


Oldwood's picture

You misunderstand. Everything is fine, they simply are not taxing enough. If the just taxed enough, they would have enough to create the utopia they have been working towards all these years.....and we are so close now....just inches away. Just a little more and they should have it....all.

Racer's picture

32 billion in a DAY! FFS!

Can someone stop this insanity?

kowalli's picture

americans just need to stop taking news credits.

IridiumRebel's picture

It's everyones default!

Billy the Poet's picture

"32 billion in a DAY!"



American Revolution cost $2.41 billion (inflation-adjusted) Read more:



JustObserving's picture

US debt is only $18 trillion and rising at $1 trillion a year.  US unfunded liabilities are $130 trillion (Kotlikoff says $244 trillion) and rising at $7 trillion a year.  US debt and unfunded liabilities work out to be $1,270,000 per taxpayer.  And rising at $68,000 per taxpayer per year.  The chance of US ever paying down its debt and unfunded liabilities is less than zero.

kaiserhoff's picture

Just so, and that negative cash flow will hit like a ton of bricks any time now.

Being a politician, at any level, will soon be one giant beeeitch.

JustObserving's picture

The other side of the coin is that US inflation has been understated by more than 3% for the last twenty years.  That means US GDP was overstated by at least 3% for each of the last twenty years.  Correcting that GDP for 3% over 20 years cuts it in half.  So real US GDP is only about $8.5 trillion instead of the assumed $17 trillion.  That makes US debt to GDP ratio approach Japan's even if we just omit the unfunded liabilities.  Keep buying those US bonds - they are backed by the best lies of the Fed and the US BLS

$500 billion was added to the US GDP on July 1, 2013,  thanks to itunes and other intangibles.

US GDP Will Be Revised Higher By $500 Billion Following Addition Of "Intangibles" To Economy

kowalli's picture

i think more less then 8.5t

FuzzyDunlop21's picture

Intangibles? Like happy thoughts?

Its only a matter of time before we go the way of Italy and start counting hookers and blow towards GDP

zerohedgejjxxzz12's picture

Don't forget  Afghanistan heroin

Hulk's picture

My absolute favorite addition they do to the GDP is this: If you own your home Outright, have the title deed in your purdy little hands, they add in what your rent would be if you did not own your own home. These fuckers are criminals the likes of which the planet has never seen...

FrankieGoesToHollywood's picture

Thats the thing about math models.  When you extrapolate, it makes shocking headlines.  But in reality, we never make it that far.  Something will break. Gov unable to pay debt, not enough doctors to cure treat the sick or not enough food to feed everyone.

There was a lib on TV stating how in 10 years 95% of the population will be obese. nevermind that more than 5% of the popuation has eating disorders (anorexic) or add in old people or those active metabolism folks.  But why let the truth get in the way of a shocking headline?


malek's picture

Just remove the assumption "debt needs to be paid back someday" and it goes much much further...

winchester's picture
winchester (not verified) malek Dec 2, 2014 8:02 AM

at least someone who really understand how it works.



Antifaschistische's picture

The unfunded liabilities and the associated growth rate is just a ficticious number.   Those numbers will be destroyed by a combination of obligation destruction, and money devaluation.   The only game left is which side of the coin gets which percentage.   People are stupid, and they'll never vote to cut their bene's in 1/2, so the government will cut the value of the currency in 1/2.   The sad a 2 for 1 currency deval still wouldn't fix it.

kaiserhoff's picture

Not fiction at all, just accounting.

Much of it is for pensions, health care liabilities, loan guarantees..., things that are not easy to fudge,

  but you're are right about the outcome, printing and eventually hyper inflation.

Tall Tom's picture

A Government Default is another possibility. They just refuse to honor obligations.


Social Security "Means Testing" can be written into law and be written so that the law will eliminate 90% of the beneficiaries.


It does not have to morph into a Hyperinflationary Inferno. That just serves to destroy the currency. A Deflationary Depression, with similar results, will follow that Hyperinflationary Inferno anyway.


Personally I would choose the Defaltionary Depression now, save what is left of the currency, and be able to begin anew without having to create a new currency. Certainly there are going to be a lot of pissed off people. Even with the destruction of the currency there will be a lot of pissed off people.


Since the end result is the same they need to man up, tell the public the truth, default, and move forward.


But do not hold your breath.


I am just informing you that there is another alternative. The path has not yet been crystalized and nothing is written in stone.

zerohedgejjxxzz12's picture

People pay into a gov pension plan, the gov spends the money foolishly, and then wants the people to take a haircut!

How about Ron Paul's Idea, where you can opt out of the forced plan.

 People how much more do you need to witness before you will come to the earth shattering conclusion that you cannot trust your Gov.


NoWayJose's picture

Don't worry - you can pay that $68,000 off with a small portion of your future 2026 hyperinflated monthly Social Security check - or you could just use a single one ounce gold coin in the year 2026 -- your choice!