U.S. Total Debt Soars By $674 Billion In November

Tyler Durden's picture




 

When the US reached a debt ceiling deal in the beginning of November, it was common knowledge that there would be a debt accrual "catch up" to make up for lost time when the US was operating under emergency measures to avoid breach of the debt ceiling. And sure enough, when the accurate total debt number was released on November 2, this was indeed the case, when we learned that the US had added some $339 billion in debt during the "emergency measures" period.

However, what is unclear is how in the remaining 4 weeks of November, the US managed to add another $335 billion in total debt, bringing the total increase for the month of November to a whopping $674 billion, and total US debt to a record $18.827 trillion.

 

Also, just to preempt the question, the chart below shows the change in US debt under president Barack Obama: starting at $10.6 trillion on January 21, 2009, total debt is now up just over 77% under Obama's tenure, to $18.8 trilion. At the current pace of growth, it may double by the time Hillary is sworn in as America's next president.

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Tue, 12/01/2015 - 18:09 | 6862795 Soul Glow
Soul Glow's picture

Bubbles are bullish.  Ask Krugman.

Tue, 12/01/2015 - 18:12 | 6862802 Zero-Hegemon
Zero-Hegemon's picture

And breaking bubbles is even bullisher

Tue, 12/01/2015 - 18:15 | 6862817 insanelysane
insanelysane's picture

It costs real money to re-arm ISIS after the Russians bombed the shit out of them.

Tue, 12/01/2015 - 18:20 | 6862840 Urban Redneck
Urban Redneck's picture

A swap is not a liability (if done correctly), but they can take time to unwind.

Tue, 12/01/2015 - 20:23 | 6863359 SILVERGEDDON
SILVERGEDDON's picture

Give the swap and the liability to those who created it to begin with.

The FED, and the current Congerss critters.

Let them eat their own pile of shit.

Tue, 12/01/2015 - 21:57 | 6863703 Shocker
Shocker's picture

$684 Billion in November... wow great recovery

Layoff / Closing List: http://www.dailyjobcuts.com

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Wed, 12/02/2015 - 08:00 | 6864807 JonNadler
JonNadler's picture

but the New York Times told us the yearly deficit was only 437 billion

Wed, 12/02/2015 - 01:00 | 6864347 booboo
booboo's picture

"Debt" would imply that it is something that will be repaid so it is really not the correct word.

Tue, 12/01/2015 - 22:22 | 6863786 DeadFred
DeadFred's picture

Paying survivor benfits to all the widows of those CIA agents is pricy as well. Plus as blackops agents they won't get stars on the wall. Sucks.

Tue, 12/01/2015 - 18:15 | 6862819 zorba THE GREEK
zorba THE GREEK's picture

The debt will be paid back some day, in Zimbabwei dollars.

Wed, 12/02/2015 - 12:30 | 6865859 invest3
invest3's picture

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a Sign that the US Government cannot 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 Hussein Obama, March 2006

Tue, 12/01/2015 - 18:51 | 6862879 Hitlery_4_Dictator
Hitlery_4_Dictator's picture

It's a free for all. We are going parabolic.  The Nuge rules. https://www.youtube.com/watch?v=-c2OM7HEfrs

Wed, 12/02/2015 - 00:03 | 6864177 Dexter Morgan
Dexter Morgan's picture

OK, back now.  After watching 3 Uncle Ted videos.  Liked the one about he has a message for Hitlery, Uncle Ted on Trump, and Uncle Ted educates Piers Morgan.

Tue, 12/01/2015 - 21:20 | 6863579 Mareka
Mareka's picture

674 Billion in 1 month.

85 million taxpayers.

$7,930 each ?

 

Wed, 12/02/2015 - 02:49 | 6864518 Chapulin Colorado
Chapulin Colorado's picture

Syrian refugees aren't taxpayers.  But they will get free housing,  free EBT cards, free education including free college,  free Obamacare, subsidized everything,  and don't have to work since they have low or no skills,  and will likely all claim PTSD/disability for life. ... courtesy of the working taxpayer. Watch the debt skyrocket....  and it just takes one pissed-off refugee to go make a pressure cooker like the crazy brothers during the Boston marathon.... obviously our immigration policy has too many failures and we have politicians who do not care for their constituents nor any fiscal responsibilities.  Really?   Really? Like #RefugeeLivesMatter?  Really? That is a cliché for everything. .. so over used.   Why doesn't the #NationalDebtMatter?  Why doesn't #HardWorkMatter or #EarnedIncomeMatter?  It seems to me that Social Parasites think only #EasyEntitlementsMatter.  That is Bullishittier!

Wed, 12/02/2015 - 03:17 | 6864553 pie hole
pie hole's picture

EBT now accepted at your local halal market. 

Wed, 12/02/2015 - 01:36 | 6864410 glenlloyd
glenlloyd's picture

Didn't he provide some additional funding to 'moderate' rebels? Was it $500 million or more than that?

Tue, 12/01/2015 - 18:12 | 6862798 Elliott Eldrich
Elliott Eldrich's picture

When you have a debt-based fiat currency system in place, where money can ONLY be created in the form of new loans which must be repaid in full plus interest, how can there ever be a reduction in the national debt? It's utterly impossible! There is NO WAY the debt will EVER be repaid, this is not a failing, this is BY DESIGN.

Tue, 12/01/2015 - 18:23 | 6862850 abyssinian
abyssinian's picture

deflation in ink and paper, so keep printing. Debt numbers are just noise! 

Tue, 12/01/2015 - 22:48 | 6863896 GRDguy
GRDguy's picture

Elliott: They're practicing confiscation on the Greeks next month, and soon it will be here.

http://www.zerohedge.com/news/2015-12-01/greeks-told-declare-cash-under-...

Tue, 12/01/2015 - 18:11 | 6862800 Zero-Hegemon
Zero-Hegemon's picture

The magic negro's greatest trick was convincing people that he wasn't the magic negro. As you can see from the charts, he's in the details.

Tue, 12/01/2015 - 18:15 | 6862813 Elliott Eldrich
Elliott Eldrich's picture

"The magic negro's greatest trick was convincing people that he wasn't the magic negro. As you can see from the charts, he's in the details."

Oh please, blaming Obama for what is going on is like blaming the little garden gnome in front of a house of ill-repute for degrading the morality of the neighborhood. It's just silly, he is nothing but a decoration.

Tue, 12/01/2015 - 18:27 | 6862847 Zero-Hegemon
Zero-Hegemon's picture

For the record, I was just looking for an excuse to use the phrase "magic negro". But those that can think for themselves know he's just a figurehead, and that he distracts the easily deceived from the very thing you're referring to.

So I do blame the lawn jockey sitting in the White House. The garden gnomes left with Bush.

Tue, 12/01/2015 - 19:02 | 6862993 WTFUD
WTFUD's picture

Really EE! What about Hope & Change? He's a dangerous Sociopath and fits well with the BankCorp Booz Allen NeoCon in ANY MEASURE of EVIL.

Tue, 12/01/2015 - 19:23 | 6863084 A Nanny Moose
A Nanny Moose's picture

So he's a garden gnome with an army and nukes.

Tue, 12/01/2015 - 22:11 | 6863754 hannah
hannah's picture

obama only has power over 'little people'. he doesnt have any power on a global scale. that power is with his handlers. he could no more 'push the button' than have sex with a female.....

Tue, 12/01/2015 - 19:50 | 6863209 scintillator9
scintillator9's picture

Here is an article one may find.......Interesting (I am being VERY charitable)

From just over a month ago.....

Tea Party Republicans Left Dazed As Obama Cuts Bush’s Deficit By $1 Trillion

 

Tue, 12/01/2015 - 18:12 | 6862803 Caveman93
Caveman93's picture

Do that every month please. End this fucker. Imagine half a trillion or more every month. Would be a spectacuar end! Guess Yeller might not want to raise those rates after all. Could get mighty pricy on that there intrest payments for dang sure!

Tue, 12/01/2015 - 18:47 | 6862927 Midas
Midas's picture

You would think after spending 8 trillion dollars we would have something to show for it, but other than banker's bonuses I can't think of anything.  We didn't even get any boondoggles like a space program or monkey butlers for everyone.  It takes a special kind of dumb to misplace 8 trillion dollars.

Tue, 12/01/2015 - 18:13 | 6862810 chrsn
chrsn's picture

Ask Zuckerberg if he'll use that "Chan Zuckerberg" shit to help pay it off.

Tue, 12/01/2015 - 18:22 | 6862845 Baby Bladeface
Baby Bladeface's picture

Good one. All 45 billions might two days pay?

But hey, President Cheney once told debts do not matter. And the US will not honour their debts in terms of real value. The more the US debt is growing, the more it is becoming the troubles of everyone else but the US.

Tue, 12/01/2015 - 18:33 | 6862876 chrsn
chrsn's picture

Well, two days is better than no days.

Okay, instead let's have Krugman give everyone a pep talk about how wonderful it is to pile up mind-boggling debt.

Tue, 12/01/2015 - 18:47 | 6862930 tarabel
tarabel's picture

 

 

Maybe 3, but you're on target.

I would say that the US debt problem is indeed worrying a lot of people worldwide. But then anybody willilng to loan money to Barack Obama shouldn't act surprised when they get scalped.

The people who loaned money to Switzerland and got scalped may have more of a legitimate complaint to make. 

Tue, 12/01/2015 - 19:25 | 6863089 csmith
csmith's picture

$45 Billion/ $18.8 Trillion = .0024

Not quite spitting in the ocean, but close.

Tue, 12/01/2015 - 18:14 | 6862814 Quinvarius
Quinvarius's picture

It is called lying for 12 months.  And they are not done yet.

Tue, 12/01/2015 - 18:17 | 6862829 alexcojones
alexcojones's picture

A $Trillion here and a $Trillion there,

Pretty soon you're talking about "real" fiat money

Tue, 12/01/2015 - 18:35 | 6862888 semperfi
semperfi's picture

trillion is the new billion

Wed, 12/02/2015 - 11:00 | 6865446 What - me worry
What - me worry's picture

Quadrillion may soon become the new trillion.

Wed, 12/02/2015 - 12:15 | 6865783 Slomotrainwreck
Slomotrainwreck's picture

Quadrillion may soon become the new trillion.

 

Too much debt will soon become too much debt.

Tue, 12/01/2015 - 18:19 | 6862836 LawsofPhysics
LawsofPhysics's picture

Yes, but debt is money...

Not to be confused with things like "value", or "capital" or real "collateral"...

 

Tue, 12/01/2015 - 18:23 | 6862848 Rainman
Rainman's picture

Maybe if Granma Yellen hikes rates, these bastards will put away our credit card. < sarcasm ultimo >

Tue, 12/01/2015 - 18:27 | 6862861 Bangin7GramRocks
Bangin7GramRocks's picture

It's like saying your 350 pound wife gained 10 extra pounds in November. Does it matter? Would you notice?

Tue, 12/01/2015 - 22:29 | 6863808 Overfed
Overfed's picture

Yeah, but when you plot her weight gain and it starts looking like an exponential function, it does tend to become cause for concern. IMO.

Tue, 12/01/2015 - 18:27 | 6862862 Truth Eater
Truth Eater's picture

What's the concern?  It's just numbers and we now have Common Core education to take care of those silly things.

Tue, 12/01/2015 - 18:31 | 6862873 Salzburg1756
Salzburg1756's picture

debt = war

always has, always will

Tue, 12/01/2015 - 18:41 | 6862903 Blackdog
Blackdog's picture

Hey, I have a good idea:  Lets raise rates - which resuls in a lower market value of the bonds held by the Treasury!  What the Heck, if you have no other option then double, double down!  Oh, I forgot, the US Treasury doesnt recognize accounting rules so they can mark the bonds at whatever value they want - capital ratios be damned! 

Tue, 12/01/2015 - 18:44 | 6862917 SweetDoug
SweetDoug's picture

'
'
'
2016 is NOT the time, NOT the problem.

Neither is 2020.

2024 is the crunch time.

Medicare, Medicaid, and SS are gone. Probably sooner.

The debt is near/over? 30 trillion.

Interest rates are hu-uu-uuge.

Automation has wiped out large %tages of jobs.

Boomers have yanked all their money from the markets.

Baby boomers are starting to die in droves. 1945-50 + 75 = 2025.

Get a front seat, lots of popcorn and enjoy!

Tue, 12/01/2015 - 18:49 | 6862939 buzzsaw99
buzzsaw99's picture

we need you now moar than ever obi wan bernanke

Tue, 12/01/2015 - 18:53 | 6862949 InanimateCarbonRod
InanimateCarbonRod's picture

Can someone who knows nothing about economics explain how the $US continues to beat the shit out of most major currencies?  

Tue, 12/01/2015 - 19:19 | 6863068 hooligan2009
hooligan2009's picture

hahaha...well, seriously, the easiest way to look at is a deseased family of countries all infected with debt - the US is not the most diseased family member, but they all have the same doctor (called Krugman) who insists on leeching the patients when the problem is lack of red blood cells.

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