This page has been archived and commenting is disabled.
Gross US Debt Surges By $240 Billion Overnight, US Debt To GDP Hits Post World War II High 97.2%, Official Debt Ceiling Increase Only $400 Billion
Two things happened when the Senate voted in the "Bipartisan" plan into law yesterday: i) deferred debt on the Treasury's balance sheet finally caught up with reality, and ii) as a result of i) America's Debt/GDP just hit a post World War 2 High of 97.2%. Becasue as the Daily Treasury Statement as of last night indicates, total US marketable debt surged by $124.6 billion, while debt in intragovernmental holdings (Social Security, Government Retirement Accounts, etc), soared by $113.6 billion, for a combined one day change of $238.2 billion, the single biggest one day increase of US debt in history. Obviously this is a result of massive underfunding and disinvestment in the various government retirement accounts as well as due to deferred debt which was to be booked since the debt was breached on May 16. However, how marketable debt could increase by a whopping $125 billion without any actual auction settlement is slightly confusing. Just as confusing is that according to the endnote in the debt subject to limit calculation, the new ceiling is not the $900 billion increase as requested, but only $400 billion more than the $14.294 billion previous, or at $14.694 billion. We hope this is some Treasury type or misunderstanding as this new ceiling will be breached in a month. And the last thing we need is this whole debt ceiling drama back again in September. One thing there is no confusion about, however, is that based on the latest gross debt number of $14.581 trillion, and the just reported Q2 GDP of $15.003 billion, total US debt to GDP is now a post World War II high of 97.2% (and that excludes the GSE off balance sheet debt).
»
- 15441 reads
- Printer-friendly version
- Send to friend
- advertisements -
You know what we need?
We need to buy everyone healthcare, increase the size of government, start another war, and force all workers into crooked unions.
That will solve all this.
Oh, and we need to include illegals in that healthcare thingy, put oil fields off limits and build more windmills. That should about do it.
I will take war for the win,and it needs to be the big one and on the amerika shore.
That will knock some sense into these lazy fukin bitchezzzz.
It's a big romper room full of spoiled brats protected from their own foolish/wastefull actions for toooooooooo long.
Hell Looking at Japan and Germany since the big one and it's clear as day that the tree needs to be HOSed down.
97.2% post WWII high, not including "off balance sheet shit". So that means we are in WWIII already. I mean, really, aren't we. How many wars we in right now, don't forget to include TWOT and TWOD. We already are at war with the world.
"You know what we need?
We need to buy everyone healthcare, increase the size of government, start another war, and force all workers into crooked unions.
That will solve all this.
Oh, and we need to include illegals in that healthcare thingy, put oil fields off limits and build more windmills. That should about do it."
Excellent! That was just perfect.
Let's crank this spending machine up and see what this baby can do. EEHAH!!!!!!!
To the moon, Alice. To the moon.
Who the fuck IS Alice?
One of these days...POW...right in the kisser.
just don't hit her when she's ten feet tall, you'll get your ask kicked...
OT: Anyone else have trouble embedding images in posts? It looks right in the Preview but when posted it's blank.
I should think your avatar would be enough...
Want Italian passsport and apartment in Rome?
Girls who scrog flaccid, hairy, greasy, Italian politicians earn every penny.
Q: Why don't Italians have zits?
A; They slid off.
http://www.youtube.com/watch?v=E0PIdWdw15U
Q: How are Italian chicks and dog poop the same?
A: The older they are, the easier they are to pick up.
Don't preview - just go straight to the page.
Ok, seriously. How does the debt held by the public go up by $124 billion in one day without a debt auction?
I said this to knuckles, above:
The PDs buying it may have just taken too long to process that much, that fast. You know they can do this. What would stop them? Hmmm?
I am not the sharpest tack in this pack by a long run but someone needs to tell me why I am wrong on this. No one discusses it yet it HAS TO BE WHAT IS HAPPENING. It is the only answer and we are too afraid to say it because we will have to own just how insane the situation is. The emperor is not just naked, he has Herpes and AIDS and is dripping it all over everywhere he roams.
ewww! Yes, we all know that is what they did, here at ZH anyway. That is what is so amazing. The masks have come off. Blatant. The saddest things are that nothing is going to be done about it and most people don't know or understand that it is happening or why it is bad. I agree they must be rolling on the floor laughing at HOW FUUUUCK'N STUPID THIS COUNTRY IS.
Nice. A daquari perhaps?
However, how marketable debt could increase by a whopping $125 billion without any actual auction settlement is slightly confusing.
Tyler ... any guesses on what this "bailout" would have been for?
the new ceiling is not the $900 billion increase as requested, but only $400 billion more than the $14.294 billion previous, or at $14.694 billion.
So this is some thing like TARP. $B750 requested but $B400 used and we were ripped off of $B350. Which two Japaneese were caught with on Swiss border. This time we are ripped off of $B500 , I think. We are being fucked up left and right.
Shouldn't the $14 billion be $14 TRILLION?
Oh crap I just saw the O mans new campaign logan.................
"THIS is a lose lose lose situation."
truth slipped out , the lies are freakin him out.
p.s. Obama, you are (sadly) the CEO and CHIEF Executive, if you want the rest of the FAA back to work then call them back and tell CONgress if they don't like it you will use the NationalGuard to escort them to work. Then call CONgress back from the vacation.
Not only are you a lying POS but you are clueless and it seems gutless as well.
Those charts look so much less menacing when you leave all the zeros off.
Yeah, I was thinking the same thing...they don't look so bad until you realize the numbers all need to have 6 zeroes added to the end to reflect "reality."
How have the blacks and hispanics contributed to our society?
Just curious.....
....they haven't and they are worthless
just sayin'
go diversity, go!!!!!
blues man ........you are souless if you ain't down there.
Hell that's worth an atmoic bomb or two right there.
I could go on but you are so silly that I can't type anymore right now honky.
?
I dare you to type.
I want to embarrass you
Let me say, so you understand, first, I'm not black or hispanic. There are some matters that need to be addressed, in certain ethnic groups, some you mentioned, based on statistics(oh, maybe say 70%+ fatherless households in black America, i.e.)as others, but, IMO, your brush stroke is broad, and "worthless" a very strong word, but, since you asked... start here....top of my head from memory, black Americans invented; blood transfusions, traffic lights and folding chairs...continue here
http://inventors.about.com/od/blackinventors/a/Black_History.htm
The three cultures in America that are stereo-typically called lazy did NOT come to this Country on their own accord. The Blacks, Puerto Ricans and Natives. None of these groups volunteered for the American experiment, so they should not be expected to conform to societal norms. Just sayin...
When I say I saw ya tryin' to mock me
Now you and your crew are on a mission tryin' to hawk me
But it isn't happenin' ya fraudulent foes
You used to front big time now I suppose
That everything's cool since the style of apparel you adopted
You used to make fun of but now you wanna rock it
So you gotta kick it with the homies
But D-E-L is already hip to your cronies
Me and CM-PX thought about this and never have we seen a
Brother who could look like Mista Mista Mistadobalina
http://www.youtube.com/watch?v=GEPOgntWfiE
PIMCO’s Bill Gross in his latest letter, Kings of the Wild Frontier, identified the “net present cost” of Medicaid at $35 Trillion, Medicare at $23 Trillion, with Social Security at $8 Trillion. To solve the government's indebtedness, he advocates “reducing benefits, raising retirement ages, and increasing tax rates or a combination of all of the above.” And says: “We likely will.”
But NEVER does he mention the elephant in the room – illegal immigration – used by the government, American corporations and open-border advocates to destroy American wages and this nation's standard of living.
MALDEF (Mexican American Legal Defense and Education Fund) is how this “elephant” is literally smashing the entire American economic system. It openingly supports amnesty for illegal aliens, the Dream Act, and granting driver’s licenses to illegal aliens. Its extensive litigation campaigns to support illegals have included a law suit against an Arizona rancher who was attempting to protect his property against illegal alien trespassers, a suit against local police over their participation in 287(g), and a challenge to state legislation in Arizona that requires all employers to use E-Verify, the online electronically operated system that allows employers to quickly and easily ensure that their new hires are legally authorized to work and are not illegal aliens.
MALDEF, that actively fights for illegal aliens such as in its suit with the ACLU against Farmers Branch, Texas, actuallyt used monies from open-border advocates - American companies and institutions such as AARP, the Ronald McDonald Charities House and the University of California - to come against this rancher.
Ex-MALDEF lobbyist, John Trasvina, was named Assistant Secretary of Obama’s Department of House and Urban Development. According to the Washington Examinger (02/02/10): “Although Barack Obama promised lobbyists would not serve in his White House, and issued executive orders restricting former lobbyists, more than 40 ex-lobbyists now populate top jobs in the Obama administration, including three Cabinet secretaries, the Director of Central Intelligence, and many senior White House officials."
The unique tie regarding MALDEF and La Raza is that they both are the creations of the Ford Foundation, according to Joseph Fallon’s series: Funding Hate - Foundations and the Radical Hispanic Lobby.
From MALDEF’s 2003-2004 Annual Report here is a list of the American companies that donate to this organization defending illegal aliens (illegals are not Mexican-Americans) and influencing immigration laws and enforcement in this country, posted on Diggers Realm March 15, 2007 :
Companies that Donate to MALDEF
$100,000 +
Anheuser-Busch Companies, Inc.
Ford Foundation
The California Endowment
Gessler Hughes Socol Piers Resnick & Dym, LTD
James Irvine Foundation
Kaiser Permanente
Marguerite Casey Foundation
Open Society Institute
Rockefeller Foundation
The Sandler Family Supporting Foundation
The State Bar of California
Tides Foundation
$50,000-$99,999
America's Charities
AT&T Foundation
Bank of America
California Community Foundation
David and Lucille Packard Foundation
General Motors Corporation
Houston Endowment, Inc.
John S. and James L. Knight Foundation
Levi Strauss Foundation
Ronald McDonald House Charities
The Rosenberg Foundation
SBC Communications, Inc.
Washington Mutual
$10,000-$49,999
AARP
ABC7
Arthur M. Blank Family Foundation
BP
Carnegie Corporation
Citigroup
The Coca-Cola Company
Countrywide Home Loans, Inc.
DaimlerChrysler Corporation Fund
Exelon Corporation
Fannie Mae
Ford Motor Company
Fried, Frank Harris, Shriver & Jacobson
The Gas Company, A Sempra Energy Utility
KB Home
Lopez Foods, Inc.
McDonald's Hispanic Operators Association
Moriah Fund, Inc.
Northrop Grumman Corp.
Prudential Financial
Sapelo Foundation
Shell Oil Company
Sidley, Austin, Brown & Wood LLP
State Farm Insurance Company
The David and Katherine Moore Family Foundation
The Sapelo Foundation
Toyota Motor Sales USA, Inc.
University of Notre Dame
Wal-Mart Stores, Inc
The Walt Disney Company
Wells Fargo
$1,000-$9,999
ABN AMRO and the LaSalle Banks
ACS State and Local Solutions
AFL-CIO
AG Accounting, Inc.
Aguirre International
AltaMed Health Services Corporation
America Online
American Medical Response
Applied Industrial Materials Corporation
Arnold & Porter LLP
Association of Mexican American Educators
Athens Services
AU Washington College of Law
Bahan & Associates
Baker & Hostetler, LLP
Baker & McKenzie
Banco Popular North America
Bank of the West
Barnes & Thornburg
Bell Boyd & Lloyd
BFI
Bickerstaff, Heath & Smiley, Pollan, Kever & McDaniel, LLP
Blum-Klover Foundation
The Boeing Company
Bousquet Dennis & Assoc.
Bracewell & Patterson, L.L.P.
Branton & Hall, P.C.
CBS/KCAL TV
City National Bank
ConocoPhillips, Inc.
Cox, Castle & Nicholson, LLP
Diaz Foods
DuPont
E.J. De La Rosa & Co., Inc.
Education Associates of America
Families in Schools
Fidelity Investments
Firebaugh Leadership Committee
Fleishman-Hillard, Inc.
Frost National Bank
Gardner Carton & Douglas
Georgia Power Company
Goldman Sachs & Company
Goldstein, Demchak, Baller, Borgen & Dardarian
H-E-B Grocery Company
Hilton Hotels Corporation
Hinshaw & Culbertson LLP
Hogan & Hartson
HOY Chicago
Institute for Latino Studies-NDU
Intercultural Research Association
Irell & Manella, LLP
Jenner & Block
JP Morgan Chase
Katalina Enterprises, LLC
Kirkland & Ellis
KTLA-TV Charities Fund
KTTV Fox 11
La Agencia De Orci y Asociados
Latham & Watkins
Law Offices of Frank Herrera, Jr.
Liebert Cassidy Whitmore
Linebarger, Goggan, Blair, Pena & Sampson, LLP
Littler Mendelson Foundation, Inc.
Lord Bissell & Brook
Los Angeles Arena Company
Marriott International Inc.
Mayer, Brown, Rowe & Maw
Merrill Lynch
Miner, Barnhill & Galland, P.C.
Munger, Tolles & Olson LLP
Narvaez Law Firm, PA
National Abortion and Reproductive Rights Action League
National Association of Letter Carriers of the United States
National Education Association
NBC / Telemundo
New Century Financial Corporation
Nissan North America, Inc.
Occidental Petroleum Corporation
Office Depot
O'Melveny & Myers, LLP
One Source Distributors
Paul Hastings
PepsiCo, Inc.
Quinn, Emanuel, Urquhart, Oliver & Hedges, LLP
Ramirez & Co. Inc.
Ramona's Food Products, Inc.
Ready Pac Produce
Rogers & Associates
Rose & Kindel
Royal-Clark Development Company
San Antonio Express News
Sanchez & Daniels
Scudder Private Investment Counsel
SEIU
Sempra Energy Headquarters
Seyfarth Shaw Attorneys
Sodexho, Inc.
Solar & Associates
Southwest Power, Inc.
St. Mary's University School of Law
Strasburger & Price, LLP
Strumwasser & Woocher, LLP
Sumac Foundation
Sumac Foundation
Sutherland Asbill & Brennan LLP
TELACU
Texas A&M University at Kingsville
The California Wellness Foundation
TXU Corp.
Union Bank of California
University of California
University of Houston
University of Notre Dame
University of Southern California
University of Texas at San Antonio
Univision Television Group, Inc.
Urban Partners, LLC
Verizon
Vinson & Elkins
Walgreens Company
Wilmer, Cutler & Pickering
Winston & Strawn
World Savings & Loan Assoc.
http://www.diggersrealm.com/mt/archives/002116.html
Let's get real here. They are looking at the demographics and see that there is a shrinking number of taxpayers to support the increasing number of retirees counting on social security and medicare/medicaid. Obviously they are hoping these new wage slaves will fill the bill and pay enough in new taxes to keep the ponzi going. Everything else is whitewash. The pandering going on to get the votes from this cohort of potential new voters and the sympathies of those who support the new entries who pursue the "American dream" is obvious and clear.
Oh sure, low information people who cannot speak English who are coming from a Third World country because they were unable to participate in its economic programs - sending "home" a large portion of their unreported cash - are going to rejuvenate the greatest economic miracle in the world and make it live again -- just like the streets of Tijuana.
what is the point of a debt ceiling if it is revised 60+ time ?
just get rid of the whole concept and live with it !
We can’t live with it. One can hardly believe the duplicity of a government that would allow this debt surge to be reported only after the big banks got their green light legislation.
To those who say this government is not an enemy of the people, one can only stare at them in wonder…as the evidence flows in like a river. This latest touch of secrecy is just the newest treachery.
“The liberties of the people,” said Patrick Henry, “never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them.”
I'm getting tired of working so blacks can sit on their asses.
Why can't blacks do something productive?
Has anyone ever heard of a black based charity helping white children? Just curious, can anyone name one?
Someone name 1 charity run by blacks to help white children. I will drop $25,000 (to the chairty of choice) if someone can find me a charity run by blacks for underprivlaged white children.
TWENTY FIVE THOUSAND DOLLARS
$25,000
I didn't think so.
It's a pleasure taking care of niggers. They clearly can't take care of themselves
dup/
You guys don't even know the half of it.
There are trillions of CDO/Squared/Cubed MBS exotica hidden in offshore accounts.
All war spending is off - balance sheet
The S & P 500 is still trading at world record lows when adjusted for the Fed's hockey sticked balance sheet and total government debt.
Just look at the Dow/Gold ratio which plummeted to new lows yesterday. That means stocks haven't even come close to catching up with gold, government debt, money supply, or any other metric you can think of.
When INTC, CSCO, HPQ, HD, etc. are trading at 75 - 175 PE ratios like LULU and CRM again, then I'll say the market is overvalued and its time to sell.
And I assure you that before this rally is over with, NEM, GG, AEM, etc. will be trading at 200+ PE ratios. Then you can think about shorting stocks for the long term.
?u??oq
We are done, and when this whole ponzi game comes crashing down people will go insane with rage insane with fear and insane with grief. Because they where deluding themselves into thinking that they where on the right side of history or the right side of civilization. They didn't realize that money and greed and hate can consume everything and what it leaves is a blasted desolate landscape. Remember the quote from the strip club owner Gomez in kill bill 2, he said "F**king with your cash is the only way you kids seem to understand". And the only way that they will truly see through their delusions is when the world falls in on them, and they go crazy.
Inflation is one of the natural enemies of most investors: Think of it as compounding in reverse: What your investment returns give with one hand, inflation can take away with the other.
Mercifully, given all of the other worries investors have had to contend with during the past decade, inflation has been relatively tame. But most Morningstar.com users who posted in response to my recent query in Morningstar.com's Portfolio Design/Management forum don't think the benign inflationary environment will last. Many posters noted that they're expecting inflation in line with historic norms, if not higher, and they've implemented portfolio hedges in an effort to offset its ravages.
http://finance.yahoo.com/news/Your-Tactics-Fighting-ms-2807964232.html?x...
Someone has been serving these people massive doses of cyanide laced Kool-aide. OMFG. Quick, we need a medic, or a professional bitch slapper NOW!
Agreed. I vote for the bitch slapper!
So real debt/gdp is 112% abouts then, eh? And that is not counting the Pentagon's secret black ops sluch fund.
I saw Ben and Timmy struggling with two new Mega Printing Machines last night pulling them into the Belly of the Fed to gear up for the next Trillions needed to pay for the soaring deficits for Wars, Bank Bailouts, Bank Bonuses, Entitlements, and General Free Lunches.
I think I have this figured out. They can still borrow the money, they just can't record it in the books because they reached the debt limit. Now that the debt limit was raised, they can now record it!
Interesting point, it seems that what main stream media neglected to explain was that they raised the debt ceiling by $400 B effective immediatly. With provisions for a second debt ceiling to increase the limit by an additional $500 B so that the debts can be covered till Feb 2012.
I assume that this is were the "super congress" budget cutting boys will work their magic after which congress can still reject the second budget increase with a super majority (I think?). At the end of the day the max debt ceiling allowed under this bill is $16.694 trillion.
I feeling like I am looking at a piece of art made by Salvador Dali...... or maybe I have fallen into the rabbit hole?
Approaching an event horizon is like that...
Why is the DTS link broken? The entire section of the treasury website is giving an internal server error as of 9:30pm ET.
I'll take a stab at this one , the treasury site is down because they have been bouncing checks to the site manager.
“The establishment of a central bank is 90% of communizing a nation.”
Lenin (Vladimir Ilyich Ulyanov)
does this mean they (the Treasury) put back all the 'money' they diverted from the federal retirement accounts? is that why a big slug of the debt ceiling expansion got consumed right off the bat?
and is that 'good' because they replaced the IOUs with 'money' or is it bad because the prior fudging ate up a good chunk of the debt ceiling increase in the lead up to the increase?
i miss the 'good old days' when the meaning of 'good' and 'money' seemed clear.
George Carlin's words ring truer today, "They don't give a fu@k about you."
http://lonerangersilver.wordpress.com/2011/08/02/george-carlin-they-dont...
These bastards create a crisis so they can 'fix' the crisis. Unfortunately for us, that is when the crime is committed. Special place in hell for these creatures.
'Tis but a paper 'cut' ... $1 trill over 10 years ($100 bill per year) ... but the debt rises ~27 times that thru QTR1 2013 ... oh yeah ... they're real 'serious' this time! ... NOT!
I would just add that there's no answer, there are not only no good choices, there is NO ANSWER. NO policy and no party (existing or new) that is going to give you a way out, because there is NO ANSWER.
Well, except formal, or informal, 100% default and reset.
I hope we all realize this by now ...
And I hope we're all thinking about how to make that reset werke ... as we're headed for that ... the unthinkable will quickly become thinkable ... quicker than you can possibly imagine ... when dealing with complete cowards and wimps.
Wholesale Scissors
Wholesale Wallet
Wholesale Vuvuzela
Wholesale Directory
Lunch Box
Discount Wholesaler
Industrial Supplies
Pen Holder
Wholesale Scarf
Garden Decorations
Wholesale Tellurion
Wholesale Umbrella
Wholesale Tie
Wholesale Umbrella
Wholesale TelePhone
Promotional Products
Personal Safety Products
Wholesale Camera
Wholesale Album
Vocal Concert Products
Wholesale Shoe
Wholesale Cap
Voice Recorder
Business Gift
Patient Care Products
Money Bank
Sport Support Products
Wine Set
Promotional Products
Wholesale Badge
Wholesale Camera
Arts Crafts
Electroluminescent
Wholesale Bedding
Silicone Bakeware
Personal Safety Products
Wholesale Pom Poms
Wholesale Ashtray
Wholesale Watch
Photo Frame
Garden Decorations
Gift Box
Wholesale Cup
Electrical Gifts
Wholesale Bracelet