It's Official: US Debt Finally Tops $20 Trillion, Jumps By $318 Billion In One Day

Tyler Durden's picture

Following President Trump's sign off last Friday on a short-term debt-ceiling/government funding/hurricane aid deal (thanks to Democrats' votes), the US Treasury was finally freed from the shackles of the debt ceiling which it hit nearly one year ago  and which meant that US federal debt would be at roughly $19.808 trillion for months.

Well, no more: according to the latest Daily Trasury Statement as of Friday, total US debt surged by $317.6 billion from its Thursday closing print of $19.845 trillion, following the short-term debt suspension which kicked the can through December 8, to finally rise above the "psychological barrier" of $20 trillion, or $20,162,176,797,904.13 to be precise.

As shown in the chart below, from March 16 until Thursday, Sept. 8, the official federal debt subject to the legal limit was at $19,808,747,000,000, i.e. the statutory debt ceiling. This is because the previous suspension of the debt limit expired on March 15 and the debt limit had been reset on that day at the level the debt reached at the close of business that day. On that day, the Treasury started using "extraordinary measures" to keep the debt subject to the limit about $25 milion below the limit.

The Treasury was finally freed from this limit on Friday, and thus the $317.6 billion surge in one day as the US Government replenished its extraordinary measures, which should allow the Treasury to coast until some time in March even after the next debt ceiling is hit on December 8.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
FreeShitter's picture

Dow to 30k and beyond, bitchez....

Kaiser Sousa's picture

and u forgot,

"WE'RE NUMBER 1...."

fucking pathetic.

DEATH TO THE MONEYCHANGERS.

FreeShitter's picture

The ameridumbs still think we are #1, remember if we are not with them, then we are against them. Amazing huh?

MagicHandPuppet's picture

Oh yeeyah!  This is so awesome.  I'm sure this is bullish for something.  FORWARD!!!

Bes's picture

so is the next psychological "barrier"

$25,000,000,000,000.00

or

$30,000,000,000,000.00

just checking.....

Sudden Debt's picture

Trust me, by the end of 2020, the debtclock will be at 29 trillion

by 2024 it will be at 45 trillion 

and by 2028.... 200 / 300 trillion and the dollar will be worthless.

People don't realize how few time is left to get prepared and have a relocation plan ready.

Silvery Dan's picture

We did it guys!!!

 

***tears rolling down face***

 

I love you guys!  Give me a hug!

MagicHandPuppet's picture

President Robert Mugabe and his stooge Gideon Gono are laughing at this attempt to outdo them... but they do have an eyebrow raised.

ReturnOfDaMac's picture

+1 for mentioning the greatest central banker of all time, Gideon Gono!  He is my hero.  This is a man among men.  He is a man who knew how to PRINT MONEY!  Before he was done with Zimbabwe, the currency had so many zeros on it, the fine print said "continued on other side".  In time, lead by his example, we will be able to do the exact same thing!

rex-lacrymarum's picture

Gono once complained that stocks had risen too much in one week, loudly condemning stock market speculators, since he had "only" printed 7 hexillion Zim-dollars that week (I'm not kidding, this is what he actually said, including the mention of "hexillion" - which I had to look up at the time to find out how much it actually was). 

sleigher's picture

Relocate?   To where?  The mountains of Montana or Costa Rica?

giovanni_f's picture

"Trust me, by the end of 2020, the debtclock will be at 29 trillion"

I trust you - will our Zimbabwe banknotes be legal tender by then?

Newbie lurker's picture

Don't worry everyone, a really well put together YouTube video(s) with completely erroneous astrological facts about constellations and complete misinterpretation of Revelations 12 in the Bible is telling me the world is over on 9/23. (I hope my sarcasm is foaming over)

So none of this really matters. Party on, Wayne. Party on, Garth!

Mr 9x19's picture

by the end of 2020 ??? you opptimistic Sudden'

 

i can't even think  we will pass the decade.

Antifaschistische's picture

I'll make up some numbers...98% of the flood victims in Houston are just hard working people with a stroke of very bad luck.

Then there's the 2%'ers.  The wealthy that flooded because of the water released from the reservoirs.  They have already started their legal suit against the government agencies that somehow did not inform them of their risks. If these people have their way...you can add billions to that debt pile because they want all the .gov agencies to "buy them out"...

....oh, and I'm sure they wanted to use the latest real estate bubble pricing to "value" their home.

....oh, these are the same people that for some mysterious reason, get their $4.5 million homes appraised at $3 million for property tax purposes.  (please excuse my gross roundings)

signing out from Hedwig Village/Houston

Juggernaut x2's picture

100% of Houstonians shouldn't have built on top of hurricane-prone swampland

logicalman's picture

It's already in the 200/300 trillion range if you account for unfunded liabilities.

Mikeyyy's picture

This is a problem that tax cuts will fix...

yogibear's picture

Onward to double to $40 trillion in less than 6 years!

Faster this time.

 

logicalman's picture

Exponemtial growth starts off fairly slowly, but it sure do get fast later.

Here's a good way of getting a handle on the idea.

http://www.singularitysymposium.com/exponential-growth.html

giovanni_f's picture

What happened? The debt ceiling farce and Hillary Rodent Clinton are coming to an end.

TeethVillage88s's picture

but, but... we are a shining light of democracy... looking down from on high (our Elites) as Republicans! as control freaks !! as Religious Leaders !! as bribe taking kid-nappers of Voters! As Gerrymandering bribe takers !!

Kaiser Sousa's picture

nah, not really...

exactly what u would expect from a mass of morons who hail from the "exceptional" nation...

Kaiser Sousa's picture

that appears will never end.

but in FACT it already has...

fuck what they're doin and telling u regarding the "markets"...

believe your lying eyes homeboy...

logicalman's picture

The difference is that it doesn't go away when you wake up.

ReturnOfDaMac's picture

We aren't even close to exceptional, Zimbabwe has us beat.  BUT, I have FAITH we can outdo them.  I believe we have an exceptional printer, and we will show the world a Ctrl-P, the likes of which has never been seen, just you wait!

TeethVillage88s's picture

oh and death to the Ayatollah !!

TeethVillage88s's picture

Buy buy buy.

- kicking the can since most of you were baby boomers!

yogibear's picture

Be #1 in debt.

Meanwhile the Chinese still accept printed dollars for real goods.

Anyone having the idea that this debt will ever be paid back in anything other than worthless dollars is dreaming.

 

 

ReturnOfDaMac's picture

Ripping off the world, one dollar at a time.  It's what we do best!

webmatex's picture

The national parks are part of the collateral - Nixon?

Raffie's picture

FREE FROZEN YOGURT FOR EVERYONE!!!

*toppings cost extra*

Mr 9x19's picture

that's gross, at least it's gay.

Money Boo Boo's picture

....and Trump, Bush, Clinton (especially), Bush I, Thatcher, Reagan, Muhlroney and Douche Nixon. Fuck the Neoliberals!!

TeethVillage88s's picture

Damn right.

But maybe they can't be confined to single category:

- Ideology
- Policy
- War-Mongering
- Black Vs White
- Rich Vs Poor
- Communist vs Fascist
- Globalist vs nationalist
-
- Religion, Catholic vs Protestant
- Religion, Islam vs Christian
-
- Capitalism vs Socialism
- Republican vs Democrat
-
- One party of Status Quo, War Mongering, Capitalists, who provide Socialism... and spread progressive ideas or pretend to fight progressive ideas of Globalism !!

logicalman's picture

Not a bad start to the list.

You missed Tony Bliar, Gordon Brown and a whole host of banksters.

Blankenstein's picture

Obama said it was irresponsible and unpatriotic to add $4 trillion to the debt

 

https://www.youtube.com/watch?v=1kuTG19Cu_Q

 

"From $10 trillion for the first 43 presidents and number 44 added $10 trillion by his lonesome, so now we have $20 trillion dollars of debt."

Fixed it for you Barry

c2nnib2l's picture

 MAGA BITCHEZZZZ ! or after today vote on sanctions I should say 

 

MANKGA ! Making North Korea Great Again ! 

 

Trump on North Korea: "maybe 'fire and fury' wasn't tough enough " ? now you're talking DONNIE ! that will teach him !

 

No oil embargo or Air Koryo asset freeze. No travel ban or asset freeze for Kim Jong Un !

 

as for the stocks ! FUCK 1% UP did you see that ? GOD wanted to revard us after the weekend. It's a 9/11 REWARD ! THANK YOU SANTA ! it's like xmass in September :D

 

I mean ... I didn't doubted you for a second all mighty invisible stock PUMPER ! wooohooooo dow & S&P to 999999999 and beyond ! FUOOUUUCK I'm going to be so RICHHHH ! this shit is on autopilot

 

every day I'm waking up and I've got moooarrr dolllllarssssss ! !


Slippery Slope's picture

It's going to take a million years to pay down that debt.

serotonindumptruck's picture

It's mathematically impossible to repay the debt.

But then again, according to The Federal Reserve...

...Maff is hard.