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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Ginsengbull's picture

Consider the proper application of our military hardware as investment potential.


Hopefully, we will reap, where we did not sow.

jmcadg's picture

US Exceptualism.

ILLILLILLI's picture

I'll see your US Exceptualism, and raise you two Jew Supremists... 

orez65's picture

Hi! I'm here to cash $1 Billion's worth of "Intragovermental Bonds"

Yes, sure. Are you out of your ever mind!

We have no cash in the US Treasury.

But, but you promised.

You are one dumb sh.t head!

But, but I need the "money"!

OK sh.t head this is what we'll do, we'll borrow $1 Billion from you, the taxpayers, and give you the cash!

Once a sh.t head, always a sh.t head!!

jmcadg's picture

If there is a physical debt clock, you'll most likely see Krugman standing by it with his cock in his hand.

lordbyroniv's picture

I recommend you all get in shape.  Gunna be rough hunting down squirrels.

Irishcyclist's picture

The beauty of all of this is that the vast majority of all this huge debt is owed to the American citizen by the American state.


The first creditor to be defaulted upon will be .....................the American citizen.



Glass Steagall's picture

We indebted some folks...

Sun and Moon's picture

Just another $2 trillion and Obama will have borrowed more money than did all previous presidents combined.Debt is rising at more than $1 trillion per year, so it is on track exceed $20 trillion. Can he do it? Yes, he can!


Irishcyclist's picture

Debt is the new currency.

razorthin's picture

The NEW currency?  It appears someone needs the crash course.

Fix It Again Timmy's picture

I want to take you higher....

Candidly speaking - we're fucked....


skbull44's picture

Debt serfdom served on platter...exactly as the Fed wanted from the get go!

Automatic Choke's picture

easy cheesy folks:   

1)  Fed prints more more more and buys up at least half the treasuries.  They are already holding a substantial fraction of outstanding debt, get it up higher.

2)  Fed "forgives" that debt. be gone!    The debt limit ain't a problem anymore!

All it really needs is a complex enough wrapper to confuse the stupid voters.

Harry Dong's picture

Debt limit = imaginary.

Zeros are free. Just tack a few more on.

Worked for zim dollars. owwww

AdvancingTime's picture

I saw this coming a few weeks ago as Americans continued to hear from the media how robust economic growth has helped push the U.S. budget deficit down to the lowest level since 2008. Claims of the sharpest turnaround in the government’s fiscal position in at least 46 years are targeted at reassuring American that Washington has got our back.  

The ugly truth many people choose to ignore is that starting in 2017 entitlements will become the driving force and carry the deficit in to nosebleed territory. Any claim that the Obama administration has the budget deficit back under control is a total lie. We are mired in the mist of the greatest government debt bubble in the history of the world. The article below looks into the risk that with the artificially low interest rates many people seem to have little desire to do anything about this.

Freewheelin Franklin's picture

Better go get a cash advance on the  credit card to make the interest payment on the credit card.

ILLILLILLI's picture

Wow...that's just like a perpetual motion machine!

roadhazard's picture

Thank you Congress.

jp71's picture

This is why America needs Scot Walker to be President.  He'll fix the problem and won't care who whines about it.

Jameson18's picture

He will care when the Tribe whines.

Bemused Observer's picture

The debt held by the public, huh?

Well, I'M part of 'the public', and I say Fuck your debt! I never signed onto ANY of these ridiculous schemes and scams...go find the fuckers who DID and get it outta THEM.

But fuck YOU if you think I'M going to accept any responsibility for it. And I'm not kicking in, either. I participate in this economy as little as possible, and keep most of mine out of the system. And I'll do my damnedest to keep what I have out of government's nasty little grabby monkey-hands...

Held by the public my ass! This member of the public repudiates your stupid debt! Pay it your damned selves!

putaipan's picture

odiuos. simply odiuos, i tellz ya.

TeethVillage88s's picture

What Difference Does it Make!!!

Signed Hillery XOXO

Roger Shermanator's picture

We indebted some folks.


Edit: somebody beat me to it.


You know that Paul Krugman is off somewhere masturbating to the prospect of all of this new debt, and all of the debt to come in the future.  MOARWARD!

ILLILLILLI's picture

+1 for "moarward".


"I love the smell of a new word in the morning. It smells like...vocabulary. Someday this woar is going to be over."

Super Hans's picture

Apparently the US debt levels no longer matter. No one seems to care.  I wish they would print out some money for me so that I can get my mortgage current!  Fuck it!  If I did not have kids, I would have just killed myself several years ago, oh well !

Went to my local family dollar today and the lady in front to me had her $20 tested for authenticity,  When it was my turn to pay for my item, I asked her if she was going to test my $5?  By the way family dollar has to be the worst discount retailer out there.


FreeNewEnergy's picture

Spoke yesterday to my brother, who turned 63 in November. He said one thing to me that stuck. "I have a pension."

In other words, he's not concerned about the level of government indebtedness, his position in society, or, realistically, just about anything else, so long as he gets his pension check each and every month.

I told him I bought 50 oz of silver the other day. He was not impressed.

He was a teacher in the NYC public school system, and still works there, part time. Hasn't started collecting SS.

I dunno. Seems he's done OK. Except if NYC goes "Detroit."

I have no pension, just silver, cash, farm tools and some land. I'll take my odds against his over the next six years. By 2020, the federal debt will be over $25 trillion. We'll both be collecting SS (I turn 62 next December and intend to start getting paid ASAP because the math says that if I don't, it will take me 12 years to catch up if I start at 65 and I think the math is going to get worse).

By the time the federal debt reaches $25 T, my 50 oz of silver will be worth what, exactly? $150 an ounce is my rough guess. That's still only $7500. I have more and plan on buying more.

yellowsub's picture

With the way the gov't fights for pensions seemingly the only thing that can't be broken so yeah, to them it's like gold...

cn13's picture

Do you really think a guy who spends $100 million dollars for a trip to Africa cares anything about public debt?


Obama lives in a politician's fantasy land completely out of touch with reality.

ironmace's picture

So... when do we start a massive war to wipe all this debt out?

bigrooster's picture

Maybe this is why gold/silver had a huge/biggest ever reversal in a single day.  Seems like someone in the tribe of goldmen knows something.

tarabel's picture



Let's just do the Greek thingy. Give all the bondholders a haircut and then see our credit rating rise because our debt/gdp ratio is falling significantly.

Not gonna happen?

Then how about we do the Cyprus thingy and take everybody's bank accounts in return for shares in zombie banks. With the stock market on a motorboat to Mars, this should make everybody a bunch of money.

Still not happening?

Okay, how about doing the Russian thingy where we take everybody's 401k and IRA accounts but continue to send them monthly payments as if they still had funds.

Hey, why don't we do all three at once. That should take care of the problem.

29.5's picture

Can I subscribe to your newsletter?

Irishcyclist's picture

Sovereign nations everywhere are piling up more and more debt : USA, the Eurozone, Ukraine, Japan, U.K.

The citizens in all of these countries will be held liable for these debts. And unfortunately citizens not yet born in these countries will be forced to service/repay debt that is being incurred right now.

Citizens across every country need to wake up. We live in a globalised world. What happens over there will have a bearing over here.

If Japan or some other debt induced nations defaults, the affect of that will the vast majority of every one us, and the majority of everyone else in the future

Rob Jones's picture

I agree with most of what you say. Except that young people will NOT be forced to repay those debts because they will never be repaid. They will be inflated away.

cheech_wizard's picture

Brief zero hedge homework assignment...

Find out who is behind "US Uncut".

Wikipedia claptrap.

US Uncut is a decentralized direct action group in the United States established in February 2011 to combat corporate tax avoidance and highlight cuts to social spending and public sector jobs.

Leave me a message. I'm feeling the need to expose another faction for TPTB... and enlighten some muppets/sheeples at the same time.


yogibear's picture

That was fast! 

Let's go for doubling it again Obma and Yellen! Onward to $36 trillion!!!

No more debt ceiling. Infinite debt and printing!!! 

Krugman,  your probably calling for massive spending and getting it up to $100 trillion quickly?

Start on you $30 trillion deficit party party hat Krugman, Yellen, Evans, Williams, Dudley, Obama and Chuck Schumer. Lets set a goal for $30 trillion before Obama leaves.

It's Zimbabwe or bust!

q99x2's picture

Where's my cut damn it.

ekm1's picture

The real debt is the one held by foreign government, about $5 trillion

The other $13 trillion is the sucker's money. It will be stolen in one way or another, so it doesn't count as debt.

Pensions will be seized, gov services will be cut etc etc etc.


The gov belongs to the citizens, theoretically. The citizens cannot owe money to themselves. The citizens are the suckers.

The only debt that matters is the foreign $5 trillion and that is it. Quite handlable

yogibear's picture

As long as the countries take the IOUs called the dollar we should go on a spending spree and perhaps triple the deficit.

Keep issuing dollars until countries refuse them. Perhaps increase the deficit to $36 trillion and have a real hoot.

Be a Japan except do it much bigger.

ekm1's picture

They are already refusing them, hence congress ordered the Fed to do QE.

No success. The more QE continued, the further USD got refused. Hence they had to stop it and currently unwinding it, lest the world totally drops it

KittyStix's picture

All in the US are enslaved to the Masters to pay their debt.

adr's picture

And at least $12 trillion of the US economy is total bullshit so debt to GDP is far higher in reality.

yogibear's picture

The real joke is that it never gets paid back.

Default by devalue.

Dre4dwolf's picture

Can we just rename National Debt to National Credit(s) already? Its a meaningless number at this point I don't understand the fascination with it everyone knows its gone parabolic and is approaching escape velocity already.

yogibear's picture

"gone parabolic and is approaching escape velocity already."

LOL, how does people getting finite pay deal with a infinite debt federal reserve system?

Recall Germany in the 1920s and Zimbabwe.