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$15,OOO,OOO,OOO,OOOBAMA! - It's Official: Total US Debt Passes $15 Trillion
Too sad for commentary, but here is some math: total US debt has increased by 41.5%, or $4.4 trillion, from $10,626,877,048,913 on January 20, to $15,033,607,255,920, under Obama as president.
(as a reminder the most recently updated debt ceiling is $15.194 trillion)
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very sad day.country being destroyed by the few. no surprise really; the poor and middle barely hanging in
True. Time to ditch the system and build our own.
Happy debt day everyone! I need to make a $16 Trillion hat for July 2012. I have six months, better get working
If we split the tab, that's just $48,100 for each of us.
will you take a credit card for my portion?
GOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOALLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL!!!!!!!!
Before we get all excited, let's just make sure they got the math right: .30 + .02 = 32 cents. No problem with my share. On a related matter, Zero is now sending 2,500 US Marines to...Australia. To fight the Cane Toad invasion. Or something.
IT'S ALL BUSCH'S FAULT
Too much beer?
it's transitory!
..........................................................................................................Peanuts.So.Far...
Green Shoots ...
WE FUCKING DID IT! $15,000,000,000,000!
When I was a kid, 15 tril was alot of money.
Finally that's over with.
Now we can get down to some REAL overspending.
$15T is the generous number. It doesn't count what the gov. is on the hook with the banks for, state debt, muni debt, student loans that the gov. is on the hook for, unfunded liabilities, etc.
@Hansel
You missed three zeroes, no big deal, just a gubmint rounding error.
Try Google It looks ok to me you stupid American educated fucktard.
He's referring to his life.
Trav74
Yeah, actually you are right Busch Bush #2 is number 1 and Obama is number 2 and not to leave out Bush #1 at number 3. But hey all that doesn’t matter … what really matters is what Drudge and Fox News say.
edit: Well not counting WWII. And ..... Reagan #4 LOL just saying
Troops are too give China a sabre to rattle.
Indonesia is really pissed off he by passed them.. after all, being Blood and all that.
President promises that Australia to get a base on American Soil the day America pays off it debt in full.
Looking forward to that..... aren't you
roflmao.....
Apparently Blythe and JP Morgan celebrated by adjusting 1.1 million ounces of silver into REGISTERED VAULTS, effectively TRIPLING their registered silver supplies overnight!
Also pretty interesting that 1.4 million ounces of registered silver is "unavailable for delivery" over the MF Global theft, and suddenly JP Morgan shifts 1.1 million ounces into registered overnight.
http://silverdoctors.blogspot.com/
...and the 300,000oz silver bar goes to... US Mint?
for $50/oz.
fuck that's a lot of crack
booyaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
Sears Card?
uhm, how about a check for mine? oops, forgot to sign it, damn!
Can I borrow the money interest free to pay my share?
'Your share' if your are a taxpayer is now $1,034,000
U.S. National Debt Clock : Real Time
Lower right hand corner.
No problem. I can easily grow my way out of this. I'll get, say, eight or ten white-collar jobs, then outsource all of them to India and collect the spread.
You seem to have mistaken debt for unfunded liabilities. Either way you are both wrong, the real number is debt per tax payer or $133,344.
So, how do the unfunded liabilities get paid?
with unFRNs
yes i think the Tax payer debt much more germane..
I refute the "democratic principles" under which it was imposed.
I'll see em in court...or elsewhere ;-)
Actually, you can use a credit card to help "pay down the national debt"
https://www.pay.gov/paygov/forms/formInstance.html?agencyFormId=23779454
And I quote:
LOL.
Hold on a minute though (hypothetical here): If everyone maxed out their credit cards at the same time through that form to pay down the national debt would the debt be 0?
...or would the debt become 30 trillion because that money was borrowed into existence to pay down already borrowed money?
Someone else please explain?
The national debt would be zero. BUT all of our credit scores would go to zero, banks would go belly-up left and right, and several pension and sovereign wealth funds would incur spectacular losses.
To save us all, the Treasury would undertake a 15 trillion dollar stimulus.
Lather, rinse, repeat. See also: the European banking / sovereign / banking / sovereign / banking etc crisis.
National debt is a misnomer, at least for the uSA. There is no national government. "Public debt" is also a stretch. That $15 trillion is FEDERAL debt. And, seeing as how they've subverted their charter (USC) in innumerable ways, not the least of which is the currency itself (got bills of credit?), they are a rogue agency and should be treated as such (w/extreme prejudice).
That might explain the lien held against the treasury to almost the exact amount of debt! LOL. Just like a corporation. Move #1 after getting the gears in motion is the file the lien!
"Public debt" is also a stretch. That $15 trillion is FEDERAL debt."
Number five greenie is mine, I don't spend them very often ;-)
The Irony wow--That's Beautiful .....
Yep but you cannot deduct it from your taxes!!
This would a fascinating experiment. I think we should take it viral. Xmas day, we all gift eachother the premise of full payment of US debt, by maxing out our credit cards.
See where it goes from there.
Oh sure. We'd do it but there's always some bastard who'd hold back and mess it up for the rest of us.
What would be great is if the Treasury would offset a person's student loan--who has made on-time payments for at least 7 years--against and up to the per-person portion of the debt. For instance, my 32k gets offset against that 48.1k; I get to not make $300+/mo payments anymore and the govt no longer has that much in outstanding Treasurys. It may be a drop in the bucket as far as the national debt, but that could be one hell of a stimulus for consumers.
fuck you; I paid my loans. Pay yours or give me the same benefit you get
agreed
"That could be one hell of a stimulus for consumers."
Stimulating the consumer is exactly what we don't want. What we want is to stimulate the saver because savings is where the capital comes from to produce goods. It's savings and production that drives an economy, not spending and consumption.
Unfortunately this bunk system rewards moral hazard. I say wipe the slate clean. ALL debts, paper, and electronic currencies go to ZERO. Fresh slate. Re-introduce Gold & Silver as common currency. Done.
Millions are wiped out. Poor, sick and eldery die in huge numbers. Cities burning within days as the welfare checks and food stamps stop flowing. Oil is revalued in the process, effectively crippling critical supply chains. And so forth. World as we know it changes overnight. Going to happen anyhow... just a matter of whether it happens slowly or all at once.
From the ashes we will rise again... but there is pain to experience first. This we have brought on ourselves. Of course, the fuckers who orchestrated this should be hunted down like animals.
I vote 'all at once'.
Can you guys wait til I can run to the store and get an AR15 and about 5,000 rounds of ammo and about a years worth of canned food? Kthanksbye
'Can you guys wait till I run to the store and get an AR15 and about 5,000 rounds of ammo and about a years worth of canned food?'
Seriously, if you are still unprepared at this point in the game you deserve the bread lines.
You have until the music stops. Make good use of the time you have left.
Wrong.
Debt instruments of a private Basil Institutional Syndicate (BIS) are easily replaced by CREDIT issuance backed by the largest armed force in the world if their leader(s) had a ball sack.
The forest must burn periodically, to remain healthy.
It 's gonna be a stinky planet.
And what year did you graduate trav you smug fuck?? Surely you have seen the explosive rise in tuitions?? Assuming you're a boomer cuz u talk like one then you pay squat for your loans.
No #OWS hand-outs
Student loans suck. Just don't go into default on those fuckers because they are nondischargeable in bk.
Grinder- Man up and pay your bills. Freeloaders are what is killing us already.
There isn't enough money in circulation for each of us to split the tab.
Duhh, thats why we charge it, for everything else there's masterfucked..
The price you have to pay
to get out of slavery.
Hurray! Let's open up some champagne!
http://www.youtube.com/watch?v=T6VF11PC6LA
15 Trillion in debt and all I got was this lousy T shirt
Secession Secession Secession. 50 independent countries.
That's treasonous talk!
The United State of America is going to last forever.
Anybody happen to note what the exact time $15T hit on the clock?
How close was it to the market rolling over late today?
I did not note the exact time but it was about 2:30 central time (as I was watching debtclock).
It was 2:30 cst. I took a screen snapshot of it when it rolled over
What number did you have in the pool?
Sounds like the first salvo in the battle to Restore the Bill of Rights and the Tenth Amendment, returning the Republic to the conscent of the governed.
- THE FOUNDING FATHERS: MYTH ASIDE, THIS IS A VISION GONE WRONG
AND YOU WOULDN'T LAST 50 MIN.
Waffen Wurfer ! I'll use your post to issue a Math riddle ! If all 50 states were having civil wars....each state individually at war with the other 49 individually....how many civil wars would there be ? Please show the math ! N. Dakota vs S. Dakota and S. Dakota vs N. Dakota is one war ! Monedas 2011 Comedy Jihad Obama isn't capable of winning the 6th grade National Spelling Bee without his teleprompter ! My guess is 625 or maybe 1250 or maybe 1225 ? 625....my final guess !
1225
50!/(2![50-2]!)
So DC fights all of us, right...
Correct, although using combinations for this is sort of swatting a fly with a Buick.
Each N can be at war with N-1 others (unless we're enabling states to be at war with themselves). Every war is then counted twice, so divide by 2:
N (N-1) / 2 = 50 (49) / 2
More fun: Consider the South Dakota-North Dakota war distinct from a tripartite war between South Dakota - North Dakota - Alaska. Each state is involved in every war it can possibly be using this counting method. How many wars are going on?
4950
nice avatar
Put simply, it's an utterly unrepayable sum at current dollar valuation. That leaves only two options: Inflate or Default. There are no other choices. Unfortunately the practical impacts of both of these can be quite different for the economy, and we have to try to hedge accordingly while watching the handful of madmen trying (and failing) to centrally plan our economy become increasingly desperate and driven toward one of these two eventualities.
Unfortunately the practical impacts of both of these can be quite different for the economy
Inflate = fiat gradually becomes worthless until critical mass capitulates
Default = confidence in fiat dissipates and capitulation happens quickly
The difference is in the pace and distribution of the pain. But either way gold-holders are better off.
Don't underestimate the savagery of the oligarchy against those they identify as having hedged properly. They will be deemed evil speculators at best, but more likely some form of domestic terrorists. Even holding physical gold will be characterized as sedition in rhetoric if not in law. What desperate measures they'll go to in order to undermine its perceived value are nearly unimaginable, but be ready for an assault on anything that is an effective hedge against their actions, for in their eyes you become more fearsome than any foreign fighting force.
Don't overestimate the pull of government either. They're not miracle workers and when fiat becomes extremely abundant, its purchasing power will decline no matter the rhetoric or laws.
Some people simplistically claim that we fought street to street and door to door in towns across Iraq because we wanted their oil. We'll take the oil alright, but I have a slightly more sinister view of what the military really wanted:
Practice.
Alex? Alex Jones? Is that you?
LOL
Ostrich? Is that you?
Roll with it, Blythe!
Oh come on you know I had to!
We agree on things though so, no worries there.
;)
Ouch!
Obedience
If government wants they can just put taxes on the sale and export of gold, making it defacto worthless.
There may be a person or two that has something to say about that. They could also put us all in an incinerator too.
True. But what is the option? Keeping all savings in fiat tied up in TBTF?
All the more reason to start beating drums for HR 1098 right now. If the people who beat the drums for Audit the Fed put similar energy towards HR 1098, people could protect themselves.
look dude if they default, they aren't going to have any POWER to declare ANYTHING.
You know what most people would do if the gov't defaulted and the police weren't going to work and shit like that? Hell, pack a few assault rifles to the Capitol and waste a bunch of congress.
When nobody is taking the government's paper, they are going to need to offer the goons something real in exchange for protecting their miserable lives.
The "goons" are protecting crude and strategic plants in far-a-way places.
The US Armed Forces will be protecting their families and their future.
Guess who wins, moron.
That is where the, "sold to unknown buyer" all that Tungsten tonnage went.
Flood the market with junk gold.
Thanks Rothschild.
MMMMM Tungsten.
Yup, it's a win / win for silver.
They will do both, selectively.
Gold and cash are good for either scenario. Both. If we get HI, then you SPEND your saved FRNs ASAP.
But you can only inflate with more debt, and thus more interest. Assets have to equal liabilities, and we have no equity
That's where the government deficits come in.
Although of course the Fed could just print money and drop it from helicopters too.
The reason a joke is funny, is because there is a hint of truth to it. When Ben said that back in 2002, I was enraged. I did not laugh.
Now, I actually welcome the throught. Dont repudiate debt. Dont hyper-inflate via the PDs (corzines) and Bunga bunga bois (ECB)
give every single american citizen $100,000. withhold 35% tax such that the distribution pays off 12T. Then pay down the 3T through a progressive sales tax. A jubilee with no moral hazard. Debtors can get out out debt. Savers can buy PMs. and people in the middle can just enjoy life for change without feeling they are beeing screwed by everyone above and below them in the crony capitolistic cluster we are in now.
Do it Ben. Seriously, just do it. I am not being sarcastic. It is the only way out of here.
It's all about "growth" we worship growth!
Albert Bartlett
"The greatest shortcoming of the human race is the inability to understand the exponential function"
From TEA
November 14 2011: The Growth Paradigm Has Become An Embarrassment
. For those of you who've never read or heard Professor Albert Bartlett's work on exponential growth (since that is what we're talking bout), get moving. Bartlett is a physicist. That means he's an actual scientist, and capable of understanding the inevitable endgame of exponential growth. People like Papademos and Monti, as well as just about any political and economic leader on the planet, don't understand the science involved. Either that or they’re willfully blind to it.
http://theautomaticearth.blogspot.com/
So nice but reality is INFLATING INFLATING INFLATING... no solution at all, at least with no violence..
Dont worry! Your Grandchildren are going to love The New World Order Of Debt Salvery Economic's Installment plan. Just slip their little heads and hands into these here blocks. Everything is going to be just fine!
- Inflection Point
You need to put this $15T in perspective. It is only enough $1 bills to blanket the entire states of Virginia, Maryland, the District of Columbia and have enough left over to cover the entire of NYC (and have a little left over for good measure). Cover every square inch of all that territory - mind boggling in a way.
Aint no thang.... Interest paid as a percentage of gdp ia not a historic high look ths the 1940s for that.
Pookey - let's burn this motherfucker down!
http://www.youtube.com/watch?v=YuPPA4wcj2Q
soon it will be 16t and 17t...the power of exponents
What comes after trillions again....
Quadrillions, followed by Quintillions followed by it really won't matter.
Can't wait til Ben creates the first duodecillionaire.
Stop whining, Obamaviles are being build to accomodate the poor and middle class. Can you not see that OWS are busy getting it ready for us?
not seein how this crap can last another 4 years at this rate. Good that he'll be regarded in the same vein as Hoover
"same vein as Hoover". Yeah, because they both suck...er, all three that is.
Obama 2012: overachieving in debt creation since 2008!
Pardon me when I say – “Give me a break.” According to the Congressional Budget Office, total federal government outlays in the next 10 years (2012-2021) are expected to be $44 trillion, while GDP will total $195 trillion.
And what about all those pesky unfunded liabilities?
Round about 2001, the CBO predicted US 2011 Fed bal at + c. $2 trillion. Missed target (counting the off-the books 7 trillion debt at the mortgage agencies) by a mere $24 trillion. The CBO, like the rest of the ZOG, is a joke.
Excellent point. We all need to keep in mind:
The GDP, as reported by the CBO, parallels Federal Revenue collections. The GDP's "Government Spending" component is immaterial.
The GDP, as reported by the CBO, is an accurate measure of the nation's economy and has been measured in a consistent manner for decades. Historical comparisons are apples to apples,
The CBO is able to predict the future 10 years in advance.
The nation's GDP is now about where it was during the 2007 boom times.
Wheeee! I feel rich again already!
Thanks for letting me know.
I was starting to get depressed.
Dead pool, is that GDP number based on any kind of "growth" over the next ten year period?
The "are expected" in your sentence is counter intuitive.
Speaking of growth....
At 1.3% population growth....
In 750 years there would be one person per square meter of every bit of dry land on the planet.
In 2400 years the human mass would equal the mass of the earth.
http://www.youtube.com/watch?v=u5iFESMAU58
Don't feed the trolls brother...
thank God! I thought you said 250 years, phew.
Keep in mind though, quite a bit of that debt is there because of social and welfare programs for the poor and middle class.
And quite a bit more from needless wars and the [according to the GAO] "un-auditable" Pentagon. Lockheed Martin isn't one of the largest corporations in the world for nothing. And the big run-up in debt happened mainly starting with the Bush tax cuts for the wealthy. Obama has continued that policy, which is a massive transfer of wealth from the poor and middle classes to the wealthy, and looks like an exponential about to go crazy high very shortly here.
The other thing to keep in mind is that a good chunk of the debt is due to interest on the debt, which gets paid to the Fed and its private investors just for lending the US dollars.
According to a CNN Money article from February 2011, "The interest on the debt is a growing chunk of the budget. Last fiscal year, interest costs rose 13.2% -- more than any other category."
From the same article: "The debt total recently hit the $14 trillion mark. And over the next 10 years, the CBO projects that interest costs will skyrocket because of anticipated higher rates and the issuance of new debt."
'Wham Obama Ding Dong!'
Watching the PM prices at 5:35 EST....poor COMEX/FED fuckers are SO afraid of REAL MONEY exerting itself.....
i am getting sick and tired of hanging around in the 1700 to 1800 corral.
oh come on. it ain't that bad..........15 T is a great number. let's dance........
http://www.youtube.com/watch?v=IyjBy19Mdmc&feature=related
The word "few" spelled wrong.
you got that right. its like sandusky with a "i" or a "y" ...........hmmmmm....
Don't be sad. Let's dance together with the greeks! waiter.... your finest ouzo!
http://www.youtube.com/watch?v=2AzpHvLWFUM
We probably hit 15T for reals years ago. Why should we believe today was the actual day? The day is not sad, the system is sad. The end game will be even more sad.
USA! USA! USA! Everybody - USA!
Nothing to see here sheeple, keep moving along.
Budget deficits are so Oldspeak. We'll just change the wording. I know, "deficits don't matter."
BREAKING NEWS!!!!
Official statement from Treasury indicates an accounting error. The 15 trillion in debt is actually a 15 trillion surplus. Winning!!
no way thats ever getting paid back.....thats too bad for someone
Nothing is owed.
Contracts that involve enslaving unwilling third parties and the unborn - essentially slavery futures - aren't legitimate. They must be torn up.
Ain't my debt!
Odious Repudiation, FTW!
Yet there are commentators and supporters of the Obama administration that still think the profligate parasites on Capital Hill should spend more and all of our ailments will be fixed. Bunch of fiat fucktards.
but, but... they have PhDs!
Piled High and Deep.
They don't think that far, as they never make it past, "Where's mine?"
At this point, might as well. We are past the point of no return.
Ineptocrats.
you mean all of us...
15,000,000,000,000/310000000= 48387... per us citizen.
were friggin doomed!!
but wait..they aint done yet..
you didn't count the illegal aliens