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It's Official: US Debt-To-GDP Passes 100%

Tyler Durden's picture




 

With precisely one year left for the world and all of its inhabitants, at least according to the Mayans, not to mention on the day of the Winter Solstice, it is only fitting that US debt, net of all settlements for all already completed bond auctions, is now at precisely $15,182,756,264,288.80. Why is this relevant? Because the latest annualized US GDP, according to the BEA, was $15,180,900,000.00. Which means that, as of today, total US debt to GDP is 100.012%. Congratulations America: you are now in the triple digit "debt to GDP" club!

(naturally, this is using purely "on the books" data. If one adds the NPV of all US liabilities, and adjusts GDP for such things as today's housing contraction, then the magical triple digit threshold was breached long, long ago).

And here is the breakdown for the forensically inclined ones:

I. Total debt as of December 20: $15,131,979,264,288,80 (source):

II. Net cash settlement of all completed auctions: $50,777,000,000.00 (source):

III. Total GDP: $15,180,900,000,000.00 (source):

=> Total Debt/GDP= $15,182,756,264,288.80/$15,180,900,000,000.00 = 100.012%

 

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Wed, 12/21/2011 - 18:00 | 2002485 JLee2027
JLee2027's picture

Deficit when Obama took office 10.6 trillion

He's on path for a 50%+ Increase in one term!

Wed, 12/21/2011 - 18:03 | 2002499 camaro68ss
camaro68ss's picture

whahooooo weeeeeeeeee, Unicorns and skittals bitchezzzz

Wed, 12/21/2011 - 18:04 | 2002510 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Hear that?  That is the sound of the Fiat Ponzi imploding.  Grab your hard hats; time to go to work!

Wed, 12/21/2011 - 18:11 | 2002528 redpill
redpill's picture

Do we get a plaque or etched plexiglass award for our crumbling mantlepiece now that' we're in the 100% club?

Wed, 12/21/2011 - 18:11 | 2002532 fuu
fuu's picture

#winning

Wed, 12/21/2011 - 18:14 | 2002546 SHEEPFUKKER
SHEEPFUKKER's picture

I am 100% certain we are fucked.

Wed, 12/21/2011 - 18:18 | 2002560 Sudden Debt
Sudden Debt's picture

Tap you dick. If it's more sensitive than usual the answer is yes

And for the woman, blow your nose and if snot is comming from your puss the answer is also yes.

Wed, 12/21/2011 - 18:25 | 2002604 SHEEPFUKKER
SHEEPFUKKER's picture

BEST CHRISTMAS PRESENT EVER!!

Wed, 12/21/2011 - 18:29 | 2002634 redpill
redpill's picture

It was a lot more fun joining the mile high club.

Wed, 12/21/2011 - 18:33 | 2002642 Kick_the_Kan
Kick_the_Kan's picture

I wonder how much attention this will get from the mainstream media

Wed, 12/21/2011 - 18:35 | 2002654 SHEEPFUKKER
SHEEPFUKKER's picture

0% coverage. 

Wed, 12/21/2011 - 18:39 | 2002676 Mauibrad
Mauibrad's picture

Re:  "Deficit when Obama took office 10.6 trillion


He's on path for a 50%+ Increase in one term!"

 

...By design.

Wed, 12/21/2011 - 19:04 | 2002752 Manthong
Manthong's picture

Time to party like it's 2012!

How do you say Happy New Year in Mayan?

Wed, 12/21/2011 - 19:27 | 2002820 Schmuck Raker
Wed, 12/21/2011 - 19:46 | 2002870 MillionDollarBonus_
MillionDollarBonus_'s picture

Did you know that 1375 people died due to acts of terrorism in 2010? Support the progrEssivE rEvolution and end terrorism with global surveillance networks. What's your excuse?

Wed, 12/21/2011 - 19:58 | 2002912 Kayman
Kayman's picture

Hey MDB

Did ya hear that some terrorists burned down the Reichstag ?

Wed, 12/21/2011 - 21:23 | 2003099 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Good thing Germany allowed the Nazis to take over after that happened.  They did a bang up job!

Wed, 12/21/2011 - 19:58 | 2002916 Schmuck Raker
Schmuck Raker's picture

"Surveillance Networks" - Fuck Yeah!

Wed, 12/21/2011 - 21:22 | 2003096 RopeADope
RopeADope's picture

1375 people were killed by canned food in 2010?

Wed, 12/21/2011 - 21:28 | 2003107 Jendrzejczyk
Jendrzejczyk's picture

The War on Terror has cost $1,283 billion and has left between 227,000 and 300,000 dead. About 51% of these deaths are civilian casualties.

http://owni.eu/2011/05/05/the-war-on-terror-in-numbers/

Wed, 12/21/2011 - 21:46 | 2003138 Max Hunter
Max Hunter's picture

Are you talking about world government's contribution?  Or, the fake, invented threat used to keeps us all scared shitless and hand over our civil liberties? Nevermind

Wed, 12/21/2011 - 22:07 | 2003166 Jendrzejczyk
Jendrzejczyk's picture

Civil liberties = priceless

Thu, 12/22/2011 - 13:07 | 2004299 sheeple2012
sheeple2012's picture

Does that include actions of the IDF?

Wed, 12/21/2011 - 20:32 | 2002987 RafterManFMJ
RafterManFMJ's picture

 

 

USA USA USA!!!! C'mon, every body! USA USA USA!!!!!!

Wed, 12/21/2011 - 20:37 | 2003000 sof_hannibal
sof_hannibal's picture

USA USA USA USA... put on you cut off jean shorts and cowboy hat and let some of those .45 rounds go off in a early 4th of July celebration; PBRs all around yo... debt surpasses GDP... and they said we couldn't do it...

We [America, the country of] would like thank Benny B and the bailouts and China for all their cheap labor as well as all the private military contracors who made this possible,

~A good thing just got better,

signed,

USA

America is the only country that went from barbarism to decadence without civilization in between. Oscar Wilde

 

Wed, 12/21/2011 - 21:48 | 2003139 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I would like to thank the academy of 300 for giving me ths gift.  I would like to thank the taxpayer for making all of this possible.  And most importantly, I would like to thank the establishment for brain washing everyone into believing that we could issue dent/money with no backing on the faith and credit of the system.  Thank you very much!

-Ben S. Bernanke's acceptance speech, 2012, Jackass Awards

Thu, 12/22/2011 - 00:23 | 2003429 HoofHearted
HoofHearted's picture

Greece, Italy, Japan...watch out. We've got our eyes on the spots you have. We'll keep on spending til it hurts just so we can outgun your records of debt to GDP...

Wed, 12/21/2011 - 20:33 | 2002990 sof_hannibal
sof_hannibal's picture

we're number one again!!! in debt... keep spending... shop till' you drop

Wed, 12/21/2011 - 21:31 | 2003114 Troll Magnet
Troll Magnet's picture

no we are not. the limeys are way ahead of us as are the PIIGS. we got a lot of borrowing to do!

Wed, 12/21/2011 - 19:18 | 2002799 wanklord
wanklord's picture

Blame the Baby-Boomers for all the ongoing disgraces of this country, that's why they are considered America's failed generation. These good-for-nothing invested their deprived intellect in experimenting with all types of drugs and having very promiscuous (and many times deviant/unnatural) sexual lives.

In fact, the following video taken at Woodstock in 1969 clearly depicts what Baby-Boomers were all about:

www.youtube.com/watch?v=dLDalZ4-53g

Consequently, their offspring are the best evidence that defect genes have been transmitted from one generation to the next; worst of all, the chances that their descendants' DNA carrying a more complex sequence of these defective genes are 100% guarantee -these new generation of Americans can fairly be described as subhumans.

Wed, 12/21/2011 - 19:28 | 2002827 legal eagle
legal eagle's picture

Not so much.....not buying it.  That is like saying that because people are very sexual at a college age they are deviant for the rest of their lives.  It is called living.  If I was a baby boomer in the 1960s, I would have done the same.  They have had interesting lives, and that is what it is all about.

The problem is the central planning, the kleptocracy in all of the Western socities, failed multiculturalism, fake money, lots of problems, but too much sex is not one of them. 

Wed, 12/21/2011 - 21:35 | 2003123 Troll Magnet
Troll Magnet's picture

shit...i wish i had lived thru the 60s...i had the misfortune of spending my most "potent" years in the 80s!

Wed, 12/21/2011 - 22:03 | 2003158 Jendrzejczyk
Jendrzejczyk's picture

At least our big hair in the 80's was clean, and not on our faces.... or under our armpits. That's about all I remember.

Thu, 12/22/2011 - 00:29 | 2003437 WonderDawg
WonderDawg's picture

I loved coming up in the 80's. I was in college in the early 80's and got more ass than a toilet seat, as I'm sure pretty much everyone did. The 60's might have been a little more trippy, but the 80's were just fine by me. Some great music, too, though maybe not as good as the 70's if you take the decade as a whole.

Thu, 12/22/2011 - 09:13 | 2003754 CJHames
CJHames's picture

NOTHING beat the 70's music. 

Thu, 12/22/2011 - 12:50 | 2004268 DaveyJones
DaveyJones's picture

I'm deviant but that's despite all the sex in 13th grade

Wed, 12/21/2011 - 19:32 | 2002837 smlbizman
smlbizman's picture

yeah and all blacks can jump...

and all mexicans are lazy..

and all politicians are corrupt....alright i'll give you that one..

so i am sure with the wisdom you have displayed you are 19...close?

Thu, 12/22/2011 - 13:01 | 2004287 ATM
ATM's picture

Mexicans lazy? I think that's supposed to be the blacks too. High jumping, fast running but lazy.

All Mexicans work like ants but none of them can hold their liquor.

And don't get me started on those fucking Irish!

Wed, 12/21/2011 - 20:52 | 2003026 end-of-daze
end-of-daze's picture

and wanton spendthrifts!

Thu, 12/22/2011 - 00:08 | 2003405 TheFourthStooge-ing
TheFourthStooge-ing's picture

More copy-and-paste boilerplate from wanklord. It's been a while since he's used this particular screed..

Replies to him are a waste of time, as he never reads them. I don't think he reads more than the titles of the articles on which he is supposedly commenting.

 

Thu, 12/22/2011 - 04:21 | 2003626 geekgrrl
geekgrrl's picture

Wow. You wrote almost verbatim my thoughts after reading wanklord's little derailing attempt.

Thu, 12/22/2011 - 07:54 | 2003704 TheFourthStooge-ing
TheFourthStooge-ing's picture

A quick google search will reveal wanklord's pattern of copy-and-paste missives. Although he makes occasional minor changes, certain recycled phrases are easy to spot.

An amusing example is a google search for "deprived intellect in experimenting" (with the quotes in order to search for the exact phrase). Give it a try.

 

Thu, 12/22/2011 - 08:30 | 2003717 Bendromeda Strain
Bendromeda Strain's picture

Heh - you can learn a lot from a Stooge  ;-)

Wanklord plan to run for office on the Neugenics platform. It's Neu!

Thu, 12/22/2011 - 11:57 | 2004142 Chuck Walla
Chuck Walla's picture

OK, whats wrong with unnatural sex?

Wed, 12/21/2011 - 19:52 | 2002883 TruthInSunshine
TruthInSunshine's picture

Veterans returning from Afghanistan are pawning their purple hearts.

Eat yer peas.

The economy is G-R-E-A-T!

Green shoots & Purple Hearts, bitchez.

Soldier Pawns Purple Heart for Christmas Cash
Wed, 12/21/2011 - 18:56 | 2002724 Cheesy Bastard
Cheesy Bastard's picture

Congratulations America: you are now in the triple digit "debt to GDP" club!

The first rule of the triple digit debt to gdp club is never talk about the triple digit debt to gdp club.

Wed, 12/21/2011 - 21:30 | 2003112 ebworthen
ebworthen's picture

"Debt?"

"GDP?"

"Ratio?"

"What?"

"When is X Factor on again?"

Wed, 12/21/2011 - 18:42 | 2002680 RobD
RobD's picture

I did a search and only came up with blogs and forum posts.

Wed, 12/21/2011 - 18:41 | 2002681 Sudden Debt
Sudden Debt's picture

The dick tapping or the national debt?

Wed, 12/21/2011 - 18:46 | 2002693 SHEEPFUKKER
SHEEPFUKKER's picture

One and the same. 

Wed, 12/21/2011 - 18:40 | 2002678 whatsinaname
whatsinaname's picture

I am a 100.012% sure.

Wed, 12/21/2011 - 18:43 | 2002686 Sudden Debt
Sudden Debt's picture

I used to work for MF global AND I'M 600% SURE!!!!

Thu, 12/22/2011 - 02:16 | 2003572 e_goldstein
e_goldstein's picture

Nah dude, if you really worked for MF, you'd be "x to the nth degree" sure.

To comment on the article... Team America, FUCK YEAH!

 

Wed, 12/21/2011 - 19:05 | 2002749 Calmyourself
Calmyourself's picture

I am also convinced of the collapse but with the extra legal bullshit planned or condoned and abetted by every level of .gov this could take years of very painful processes to play out.  Lets hope we get a real reset of some sort with a jubilee / banker payback party....

Wed, 12/21/2011 - 18:14 | 2002549 GenX Investor
GenX Investor's picture

Or it means that BLS will shortly release a revised revision to GDP showing 99% ratio!!!

Wed, 12/21/2011 - 19:08 | 2002765 tiger7905
tiger7905's picture

Latest from Ann Barnhardt on a financial boycott.

http://goldandsilverlinings.com/?p=1793

Wed, 12/21/2011 - 21:15 | 2003076 Conax
Conax's picture

Dang, she's pretty tough. Called them rat bastards and wants to shut it all down.

I can't argue with that. It needs to be rebooted.

Thu, 12/22/2011 - 08:10 | 2003709 Ratscam
Ratscam's picture

rats are caring animals compared to them pig-vomit-puss-scumbag- shit-fuckers.

Wed, 12/21/2011 - 18:14 | 2002552 nope-1004
nope-1004's picture

I was always taught that 100% is good.

- Timmay

Wed, 12/21/2011 - 18:32 | 2002641 lolmao500
lolmao500's picture

That's a quote from Timmay at the ``OMG DEBT EXPLOSION CONGRESSIONAL HEARINGS OF 2014`` right? Like his buddy I-don't-know-where-the-money-is-wink-wink Corzine?

Wed, 12/21/2011 - 22:28 | 2003207 DoubleTap
DoubleTap's picture

That's what I was thinking. 100% = A+ credit rating right?

Wed, 12/21/2011 - 18:52 | 2002713 whatsinaname
whatsinaname's picture

Did my head hit something ?

Wed, 12/21/2011 - 19:40 | 2002843 Don Birnam
Don Birnam's picture

A propos of a banana republic, which we unquestionably now have become, the National Anthem is in want of replacement with, in turn, a like, a propos standard:

Work all night on a drink a' rum
Daylight come and me wan' go home
Stack banana till the mornin' come
Daylight come and me wan' go home

[ Under penalty of prosecution under the NDAA ], please rise for our national anthem...a moving ballad, echoing our time-worn American values of borrow and spend...the Banana Boat Song.

Wed, 12/21/2011 - 20:01 | 2002924 Rakshas
Rakshas's picture

Oh for fuck sake this is getting depressing;  

Time for a game changer - Nibiru won't you purge this steaming pile of ................

 

Fuck it; Blow Me FEMA

http://www.youtube.com/watch?v=MjMCaw4qzjg 

 

Wed, 12/21/2011 - 18:22 | 2002577 camaro68ss
camaro68ss's picture

eat you f'in peas America

Hows dem peas tast mother fukua

Wed, 12/21/2011 - 18:03 | 2002502 willien1derland
willien1derland's picture

Obama...a damn overachiever!

Wed, 12/21/2011 - 18:14 | 2002551 Sudden Debt
Sudden Debt's picture

2008: YES WE CAN!

2012: YES WE DID IT!

2016: BOW HUMBLE SLAVES! OFF TO THE FEMA'S WITH THE REBELS!

Wed, 12/21/2011 - 20:39 | 2003005 RafterManFMJ
RafterManFMJ's picture

 

 

Rebel? Oh, fuck no! I say, LET IT BURN! Dig a slit trench set up a KZ, and let it burn. Why would you fight for a kingdom of shit?

Wed, 12/21/2011 - 18:45 | 2002692 Rainman
Rainman's picture

I'll take a 20 t handle by April Fool's Day, odds 7-1

Wed, 12/21/2011 - 18:12 | 2002531 Sudden Debt
Sudden Debt's picture

Yeah... Nice.... I still remember when we passed 100% here in europe a few years ago....
Good times... Best of times... But that's in the past now...

Wed, 12/21/2011 - 19:08 | 2002767 BennyBoy
BennyBoy's picture

Just give a trillion dollars of electron dollars to each bank and be done with the fuckers whining.

Wed, 12/21/2011 - 18:27 | 2002617 lolmao500
lolmao500's picture

So what. The next debt ceiling is at 16.7 trillion. Enough to last till February 2013.

Wed, 12/21/2011 - 19:11 | 2002778 NotApplicable
NotApplicable's picture

Only in a linear world. I'll be surprised it it lasts until next summer.

Wed, 12/21/2011 - 19:42 | 2002856 lolmao500
lolmao500's picture

Well unless they start WW3 or bailout a big bank or do another stimulus, it will last.

Wed, 12/21/2011 - 18:27 | 2002618 JustObserving
JustObserving's picture

Fitch just threatened USA with a downgrade of its AAA rating.  But that downgrade may be 2 years away.  Lesser countires like Hungary get 2 weeks warning.

 

Eurozone crisis: Fitch threatens to cut America's AAA rating

• High and rising US debt 'incompatible' with triple-A rating.

http://www.guardian.co.uk/business/2011/dec/21/eurozone-crisis-ecb-loans1

 

Wed, 12/21/2011 - 18:43 | 2002688 westerman
westerman's picture

He managed to spend 5 000 000 000 000 of extra money and the voters still hate him. Can you fail harder?

Wed, 12/21/2011 - 18:44 | 2002689 Elwood P Suggins
Elwood P Suggins's picture

Wouldn't have looked as bad if they had left the 80 cents off. 

Wed, 12/21/2011 - 19:03 | 2002750 Yardfarmer
Yardfarmer's picture

 the debt from that one term happens to be the total national debt accrued from George Washington through Slick Willy Clinton.

Wed, 12/21/2011 - 19:37 | 2002846 CompassionateFascist
CompassionateFascist's picture

"100%" happened some time ago. There's trillions of additional debt held "off the books" at the mortgage agencies, and the GDP figure is a joke.

Thu, 12/22/2011 - 01:43 | 2003542 Assetman
Assetman's picture

+ 5 trillion.

Wed, 12/21/2011 - 19:56 | 2002902 M4570D0N
M4570D0N's picture

Unpossible! He said he was gonna cut it in half. He would never lie to us.

 

(PS. Deficit/=Debt)

Wed, 12/21/2011 - 19:57 | 2002909 mmc1968
mmc1968's picture

This article is misleading.  $4.7 trillion is intragovernmental debt, which should be eliminated when consolidated.  This is just debt that the government owes to itself - so no real debt at all.  It sits as a liability at one department and as an asset in another department.

Wed, 12/21/2011 - 20:15 | 2002954 walküre
walküre's picture

"just debt that goverment owes to itself" - priceless!

Thu, 12/22/2011 - 02:18 | 2003575 e_goldstein
e_goldstein's picture

He obviously works for a TBTF.

Wed, 12/21/2011 - 21:40 | 2003126 RopeADope
RopeADope's picture

Because everyone knows the Social Security Trust Fund was actually supposed to be called the Fund to Promote Sociopathic Behavior by the State via Warfare and Banking.

Wed, 12/21/2011 - 21:49 | 2003142 pods
pods's picture

But those "assets" are non negotiable bonds which have to be paid by new issuance, at least the assets of the SSA:

" In all, the agency has about $2.5 trillion in bonds, all backed by the full faith and credit of the U.S. government. But don't bother trying to steal them; they're nonnegotiable, which means they are worthless on the open market."

http://www.dispatch.com/content/stories/local/2010/03/14/social-check.html

So those assets may only be paid out by new issuance of debt.  So that debt (well, 2.5+trillion anyways) is valid.

pods 

Wed, 12/21/2011 - 19:59 | 2002918 Yardfarmer
Yardfarmer's picture

 the debt from that one term happens to equal the total national debt accrued from George Washington through Slick Willy Clinton.

Wed, 12/21/2011 - 20:05 | 2002935 TheSilverJournal
TheSilverJournal's picture

Also, US GDP is waaay overstated. 70% of the US economy is service sector which is counted in GDP. A lot of products are shipped to the US and put together in the US and they're counted in GDP. The US borrows a load of money and spends it which is counted in GDP. The main export of the US is the USD.

TheSilverJournal.com

Wed, 12/21/2011 - 20:57 | 2003035 end-of-daze
end-of-daze's picture

SO.......... You caused the problem and he tried to save you, as if you were worth it. Idiot!

Wed, 12/21/2011 - 22:23 | 2003192 papaswamp
papaswamp's picture

Just to be the Devil's advocate...he won't beat Reagan. No difference between the parties. Wake up and realize the 2 party system is the same party. The political/bankster class. Stop with the Dem vs GOP...there is no difference...both spend out of control.

Wed, 12/21/2011 - 22:43 | 2003232 Mentalic
Mentalic's picture

If we subtract the GDB bump that might have happened due to NAR overstating their data, we passed the triple-digit number some time back...

Well, what's to stop them from revising this again....eh?

Wed, 12/21/2011 - 23:14 | 2003304 Real Money Wins
Real Money Wins's picture

Can't help but think of a song right now.

 

http://youtu.be/bNlNZ2T9EeY

Wed, 12/21/2011 - 18:03 | 2002486 greased up deaf guy
greased up deaf guy's picture

congrats, everyone. usa! usa!

Wed, 12/21/2011 - 18:03 | 2002505 midtowng
midtowng's picture

This deserves some sort of celebration.

Perhaps burning a central banker alive in the town square?

Wed, 12/21/2011 - 19:34 | 2002841 XitSam
XitSam's picture

Somehow, this seems more appropriate.

Wed, 12/21/2011 - 22:24 | 2003199 papaswamp
papaswamp's picture

It is winter solstace..I believe it would be heathenistically appropriate.

Wed, 12/21/2011 - 22:39 | 2003226 UP Forester
UP Forester's picture

Now, where did I leave that giant Wicker Man....

Wed, 12/21/2011 - 18:17 | 2002559 BigDuke6
BigDuke6's picture

i guess for all this debt you guys get free healthcare, great pensions, roads and infrastructure?

No, for all that money you get banker bonuses and the cream of the younger generation getting their faces blown off to 'civilise' the biggest shitholes in the world.

That sucks the sweat off a dead mans balls.

Wed, 12/21/2011 - 19:12 | 2002786 NotApplicable
NotApplicable's picture

Funny how criminal cartels operate.

Wed, 12/21/2011 - 19:14 | 2002794 Hansel
Hansel's picture

yeah, fucking hilarious...

Wed, 12/21/2011 - 18:03 | 2002487 TruthInSunshine
TruthInSunshine's picture

Der Sprockets, a widely read German Paper (similar to The Telegraph or Canada's Globe & Mail in terms of shitty content), has said that pointing out that the U.S. has a 100% debt-to-GDP ratio is fear mongering and a terrible thing to do.

 

***U.S. Debt is really 11 to 16 times higher than officially acknowledged [60 to 200 trillion USD] according to David M. Walker (former Comptroller General of the United States) or Laurence Kotlikoff.

Wed, 12/21/2011 - 18:14 | 2002550 fuu
fuu's picture

Und now we dance!

Wed, 12/21/2011 - 18:18 | 2002565 Long-John-Silver
Long-John-Silver's picture

Dance Debt Bitchez, DANCE!

Wed, 12/21/2011 - 21:43 | 2003131 Potemkin Villag...
Potemkin Village Idiot's picture

Fuck... There are politics in that too...

http://www.youtube.com/watch?v=eabefjsJsAQ

Wed, 12/21/2011 - 23:22 | 2003321 fuu
fuu's picture

Well played.

Wed, 12/21/2011 - 19:09 | 2002776 Calmyourself
Calmyourself's picture

Pet my monkey, love de monkey..  The debt monkey on your back bitchez..

Thu, 12/22/2011 - 00:12 | 2003413 TheFourthStooge-ing
TheFourthStooge-ing's picture

fuu knew:

Und now we dance!

"I'm as happy as a little girl."

 

Wed, 12/21/2011 - 18:38 | 2002668 JustObserving
JustObserving's picture

While people are focused on US debt to GDP ratio, many people buy the BEA number of US GDP of $15.18 trillion. Others like Dagong, the Chinese rating agency, estimate US GDP as $6 trillion. So US debt to GDP ratio may be as high as 30 while we officially  mark the ratio crossing 1.  There are lies, statistics and BEA statistics.

Wed, 12/21/2011 - 18:01 | 2002492 TeMpTeK
TeMpTeK's picture

Relax.... Its only paper

Wed, 12/21/2011 - 18:17 | 2002562 Long-John-Silver
Long-John-Silver's picture

Each note has an intrinsic value of 12.44 BTU.

Wed, 12/21/2011 - 18:22 | 2002594 s2man
s2man's picture

Don't burn it, its toxic!  Thats according to the Fed.  The epa got "pissy" and made them stop burning it.  That's why the give those little bags of shredded FRNs to visitors.

Wed, 12/21/2011 - 18:27 | 2002623 Sudden Debt
Sudden Debt's picture

I wonder what fukushima tourists will get after their tour....

Wed, 12/21/2011 - 18:54 | 2002720 tekhneek
tekhneek's picture

cancer?

Wed, 12/21/2011 - 19:13 | 2002791 tmosley
tmosley's picture

Damn, I was hoping for superpowers.

http://www.youtube.com/watch?v=Q-mgunaSQxc

Wed, 12/21/2011 - 18:02 | 2002494 willien1derland
willien1derland's picture

And because the developed world is all in the same boat, presently, we are graded on a curve....No Debt left behind Bitchez!

Wed, 12/21/2011 - 18:02 | 2002496 Jlmadyson
Jlmadyson's picture

Say it ain't so O.

Wed, 12/21/2011 - 18:04 | 2002508 Odin
Odin's picture

Time to sacrifice some virgins on high?

Wed, 12/21/2011 - 19:11 | 2002782 Calmyourself
Calmyourself's picture

Keep them away from Penn state or the sacrifice doesn't work, just sayin..

Wed, 12/21/2011 - 18:04 | 2002509 sexcellent
sexcellent's picture

ok now congress really really promises to take it seriously

Wed, 12/21/2011 - 18:06 | 2002515 willien1derland
willien1derland's picture

Somewhere John Boehner is crying, while Harry Reid calls his Bookie in Vegas...

Wed, 12/21/2011 - 18:05 | 2002512 HungrySeagull
HungrySeagull's picture

That will be one check uncle sam will not be able to write and cash.

Wed, 12/21/2011 - 18:10 | 2002523 LouisDega
LouisDega's picture

My ass is only worth $13  and my soul belongs to Jesus. Hope that helps

Wed, 12/21/2011 - 18:06 | 2002514 LouisDega
LouisDega's picture

Wow. Thats a lot of spinach.

Wed, 12/21/2011 - 18:08 | 2002522 Jena
Jena's picture

Correction, peas.

Wed, 12/21/2011 - 18:06 | 2002516 Kali
Kali's picture

Whoo Hoo! Happy New Year!

Wed, 12/21/2011 - 18:08 | 2002519 css1971
css1971's picture

If you taxed all income taxpayers at 100% of income. You still couldn't pay the US Government budget.

 

Wed, 12/21/2011 - 18:21 | 2002587 PulauHantu29
PulauHantu29's picture

How about 200%?

Wed, 12/21/2011 - 22:42 | 2003231 UP Forester
UP Forester's picture

I thought the limit was 140%.

Unless it's the City of London.

Wed, 12/21/2011 - 18:27 | 2002615 NOTW777
NOTW777's picture

and they are fighting over payroll taxes - ha

Wed, 12/21/2011 - 19:15 | 2002796 NotApplicable
NotApplicable's picture

Gotta keep SS "solvent" don't you know.

Wed, 12/21/2011 - 18:27 | 2002622 catacl1sm
catacl1sm's picture

Don't confuse debt, budget, and deficet.

Wed, 12/21/2011 - 19:09 | 2002770 css1971
css1971's picture

I know exacty what they are.

The point is, taxes are now almost irrelevant. They can tax all they want, literally take everything you earn. It doesn't make a blind bit of difference. The budget is still too large.

 

Wed, 12/21/2011 - 18:08 | 2002524 max2205
max2205's picture

I never believe govt #'s

Wed, 12/21/2011 - 18:09 | 2002525 John Law Lives
John Law Lives's picture

100% FUBAR.

I wonder why S&P hasn't officially downgraded France.  Go ahead and do it and let's watch the show.

Wed, 12/21/2011 - 18:10 | 2002529 1835jackson
1835jackson's picture

TEAM AMERICA FUCK YEAH!!!!!!!!

Wed, 12/21/2011 - 19:56 | 2002905 Schmuck Raker
Schmuck Raker's picture

Oops, sorry guys, I posted this after you further up.

Wed, 12/21/2011 - 18:14 | 2002533 Rob Jones
Rob Jones's picture

Cool!

How long until we pass 200% GDP? 6 years? 8 years? 10 years?

Do we get bonus miles?

Wed, 12/21/2011 - 18:20 | 2002579 Kali
Kali's picture

Awww, don't shortchange US!  12-31-2012

Wed, 12/21/2011 - 18:15 | 2002534 grunk
grunk's picture

Drinks for everyone... Ben and Timmy are buying.

Ben and Timmy go driving

http://www.youtube.com/watch?v=TuEdU_lrtZk

 

Wed, 12/21/2011 - 18:13 | 2002537 Out9922
Out9922's picture

Celebrate good times, come on

Wed, 12/21/2011 - 18:13 | 2002540 Alcoholic Nativ...
Alcoholic Native American's picture

who cares

Wed, 12/21/2011 - 19:53 | 2002893 Schmuck Raker
Schmuck Raker's picture

An insightful summation of how we got here. Kudos!

Wed, 12/21/2011 - 18:13 | 2002541 NoClueSneaker
NoClueSneaker's picture

Xmass lynch party on lower Manhattan ? ( Plz. invite Jon Kerosine - no thug left behind ).

NJ citizens owe to be the game changers :-P

Or do they have something to loose ?

Wed, 12/21/2011 - 18:15 | 2002543 HardlyZero
HardlyZero's picture

Does this new event horizon accelerate the Apocalypse Clock to a few days before midnight Dec. 21, 2012 ?

What is the real countdown clock setting ?

Wed, 12/21/2011 - 18:22 | 2002591 Long-John-Silver
Long-John-Silver's picture

Dec. 21, 2012 is the beginning of the new calender. The Apocalypse leads up to that date. We all get a new start Dec. 22, 2012.   

Wed, 12/21/2011 - 18:59 | 2002732 kito
kito's picture

i just dont get this mayan end of the world thing. as i understand it, their long calendar ends on december 21, 2012, but its not as if they didnt have a new calendar to follow, which they do. so if its the end of the world, why bother continuing with a new calendar? 

oh, and why tylers posting discrepancy with http://usdebtclock.org/ which has debt at 100.4?????

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