Total US Debt Update: $14.86 Trillion; $162 Billion Increase In Three Days; 98.9% Debt/GDP

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Wed, 10/05/2011 - 16:20 | 1742662 sabra1
sabra1's picture

so, which bank in europe is being fed, and when will those pensions be replaced? well, i'm waiting over here!

hey ma! look! i'm first!!!!

Wed, 10/05/2011 - 16:23 | 1742691 mfoste1
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someone is being bailed out secretly....who it be?

Wed, 10/05/2011 - 16:31 | 1742749 Fukushima Sam
Fukushima Sam's picture

Everything is just fine over at BOA.

Wed, 10/05/2011 - 16:51 | 1742834 dlmaniac
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Just pass a new regulation to mark national debt as wealth. Why worry?

Wed, 10/05/2011 - 17:26 | 1742954 trav7777
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yeah, lol, I am sure they ginned up the FY10 number to look better than it was.  Now we see $162B of what should've been last year's deficit showing up in the first 3 days.  Lying as a High Art

Wed, 10/05/2011 - 17:50 | 1743038 tekhneek
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The real question is, Tyler, can we PLEASE have an open thread tomorrow once we pass 15,000,000,000,000 (15 trillion)?

 

Wed, 10/05/2011 - 18:08 | 1743092 slewie the pi-rat
slewie the pi-rat's picture

No soup for you!

Wed, 10/05/2011 - 18:33 | 1743167 redpill
redpill's picture

If consumption with borrowed money = growth, then surely debt = wealth?

Wed, 10/05/2011 - 23:43 | 1744140 CompassionateFascist
CompassionateFascist's picture

Absolutely, since they count gov't spending as part of GDP, and half of that = debt creation. DEBT is now America's most important product.

Wed, 10/05/2011 - 18:08 | 1743093 The Deleuzian
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I can't wait for that!!

Wed, 10/05/2011 - 18:30 | 1743139 hambone
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Yo T - what would you or I or most any other poor bastard on ZH say bout this tomorrow we haven't already said...Fuck saying any more about this and preaching to the converted.

Time has come for ZH'ers to form the "fight clubs" city by city, ZH local chapters...we need to take this message to "the people".  The time for chatting bout how to invest to enrich ourselves is behind us.  The problem is becoming a bit larger than returning alpha.

Wed, 10/05/2011 - 18:35 | 1743173 andybev01
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It looks like the '#occupy...', folks have already started this.

Wed, 10/05/2011 - 19:01 | 1743278 Hapte
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My flight leaves Tues, meet you in Liberty Square?

Wed, 10/05/2011 - 19:12 | 1743311 hambone
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I'm in for the Portland, OR event - anyone in PDX...here is the info

Occupy Portland is Portland's answer to the Occupy Wall Street movement happening in New York City. The demonstration of solidarity with the Wall Street protesters will begin at noon on Thursday, October 6th, 2011 with a march out of SW Waterfront Park. Following the march, a public space in Portland will be "occupied" and used a a central location for meetings, events, and communications.

Wed, 10/05/2011 - 19:32 | 1743368 drink or die
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I thought about it, but I still have a job.  Also, when the Portland anarchists inevitably show up and start acid etching/breaking windows, it'll make everyone look like a douche.

Wed, 10/05/2011 - 19:41 | 1743404 hambone
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Yeah, I've got my trepidations about attending (I work in PDX and manage a team of folks...not sure I'm ready to come out of the ZH closet quite yet) and worried this event could be hijacked by jackass' who want more socialistic programs...but that's the point, it's gotta start somewhere than normal people (or whatever I am) start saying no fucking more.  No more lying, warring, fraud, socialism run amok, no more golden bailouts for Countrywide, BAC, Lehman, AIG, no more money printing to pay for shit we can't afford, no more politics as usual.  Blah blah blah.

Wed, 10/05/2011 - 19:48 | 1743449 drink or die
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Marching doesn't do much.  I'm using the Iraq war demonstrations as an example.  They will either die down or turn violent in the end.  IMO the best we can do as individuals is deprive the beast whenever possible the fruits of our labors, in order to hasten the inevitable implosion. 

 

Either way, good luck!

Wed, 10/05/2011 - 19:59 | 1743511 hambone
hambone's picture

DoD,

I can respect your POV and thanks man...not overly optimistic about it but I'm willing to try anything to attempt to save this b4 it turns really ugly..I know it's a low probability gig but better than no chance if I resign myself to "the inevitable".

Wed, 10/05/2011 - 20:39 | 1743699 gmj
gmj's picture

Hambone, the Portland crowd is too whacked out.  I won't even go downtown anymore.  You could end up in jail.  Your boss might not like that.  When the middle class starts protesting, I'll join in.  Besides, I'm not much of a follower.  I don't follow orders barked out by some smartass kid with a bullhorn.  I am repulsed by the mob, and run the other way.  Imagine if those Portland fruit loops got power.  I don't even want to think about it.

Wed, 10/05/2011 - 21:52 | 1743914 doomz78
doomz78's picture

Unfunded Liability........

 

Ready???

115 800 000 000 000$

Thats 115 800 billion dollars.  Big picture.  Bankrupt.

Thu, 10/06/2011 - 00:26 | 1744242 DeadFred
DeadFred's picture

"The real question is, Tyler, can we PLEASE have an open thread tomorrow once we pass 15,000,000,000,000 (15 trillion)?"

Perhaps a Parity Party instead, a kegger? I can bring homemade salsa- garden fresh tomatos.

Wed, 10/05/2011 - 16:32 | 1742753 GenX Investor
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That is more than the net worth of both Buffett and Gates if we confiscated all their wealth.

Wed, 10/05/2011 - 16:35 | 1742780 GFKjunior
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We could confiscate the entire forbes 400 list's wealth and be able to cover our government spending for about 6 months!

 

 

 

Wed, 10/05/2011 - 16:51 | 1742835 Cash_is_Trash
Cash_is_Trash's picture

WHOSE GOING TO PAY THOSE 73 CENTS??

PLADIZOW'S BREASTS, I'M LOOKIN' AT YOU!

Wed, 10/05/2011 - 16:53 | 1742839 Going Loco
Going Loco's picture

You could confiscate the entire net assets of the ancient nation state of Greece and cover your entire government spending for about... er.... oh.....

Wed, 10/05/2011 - 17:31 | 1742969 CH1
CH1's picture

But it would slake the envy of  all those closet socialists for a little while!

Wed, 10/05/2011 - 18:04 | 1743081 Pladizow
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To: GFKJunior and GenXinvestor - Kyle Bass?

Wed, 10/05/2011 - 18:35 | 1743175 zerozulu
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This is what I expect to happen. And this is what I call," French Revolution II"

Wed, 10/05/2011 - 17:29 | 1742967 Van Halen
Van Halen's picture

We were going to confiscate all their wealth but then Buffet and Gates had this real cool idea to have us confiscate everyone else's wealth instead and so we're busy doing that now.

Wed, 10/05/2011 - 17:32 | 1742975 CH1
CH1's picture

That one was codified into law in 1913. Gates and Buffet are wannabes, hoping to be let into the game.

Wed, 10/05/2011 - 16:33 | 1742764 Anonymouse
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Appears to be Social Security, Medicare, or Medicaid as $120B of this is an increase in intragovernmental debt.

What others items are intra-governmental?  FDIC isn't, is it?

Wed, 10/05/2011 - 16:49 | 1742829 mfoste1
mfoste1's picture

ehhh its just probably obummer spending tax dollars on golf or vacation

Wed, 10/05/2011 - 16:56 | 1742862 RSloane
RSloane's picture

That's what I was thinking. Michelle go on vacation again?

Wed, 10/05/2011 - 17:31 | 1742971 max2205
max2205's picture

I am shocked they report this anymore. We don't need to know this and they are bullshit numbers no one can verify anyway.

Wed, 10/05/2011 - 16:29 | 1742697 Pladizow
Pladizow's picture

What $15 Trillion looks like: http://usdebt.kleptocracy.us/

Perhaps the US Gov is trying to reach a debt goal, like a thermometer guage to be colored in at a charity drive?

Wed, 10/05/2011 - 16:34 | 1742765 SilverRhino
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$162 billion in THREE DAYS.  

Ford class aircraft carriers cost about $9 billion each. 

For that amount of money the USA could have completely replaced EVERY USN CVN aircraft carrier afloat (11) and all of their aircraft.   And we spent it in THREE FUCKING DAYS.

 

Wed, 10/05/2011 - 16:40 | 1742800 Motley Fool
Motley Fool's picture

You mean it's wasn't fast enough for you? I'm sure they will try harder. :P

Wed, 10/05/2011 - 16:41 | 1742804 SilverIsKing
SilverIsKing's picture

Actually, they likely spent more than this since this is just the increase in debt.  Some of the spending would be funded from tax receipts so they are really spending more than just what they are borrowing.

Wed, 10/05/2011 - 16:45 | 1742819 kito
kito's picture

yes, because thats all this country needs---to pump more money into the crony inflicted money pit that is called the pentagon.

Wed, 10/05/2011 - 17:00 | 1742876 SilverRhino
SilverRhino's picture

Did I actually recommend a solution in that?  I was putting the $$$ flow into perspective.   Or can you find a BIGGER single discrete piece of machinery to illustrate the point? 

What $163 BILLION buys -  

  • 11 Ford class CVN aircraft carriers and planes.  
  • ~75 B-2 stealth bombers. 
  • 8000+ Apache helicopters. 
  • 38,000 M-1 Abrams battle tanks. 
  • 3.5 million man-years of labor (median income 2010, $46K)

Sort of drives the point home how MUCH $$$ this government is pissing away.

Wed, 10/05/2011 - 17:07 | 1742898 kito
kito's picture

easy silver--never mess with a rhino......just had to say in case you had any ideas

Wed, 10/05/2011 - 17:14 | 1742921 HankPaulson
HankPaulson's picture

Point very well made.

Actually the figure seems to be 323 million man-years of labor.

This does show how far the finance industry has become decoupled from the (real) lives of most human beings and the real world, and how enormous is the tail that is wagging the dog.

Wed, 10/05/2011 - 19:53 | 1743484 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

The pooch is screwed, that “tail”that is wagging the dog, is actually the remainder of the snake that crawled into the dog’s ass back around 1913 and has been a parasite since.

Wed, 10/05/2011 - 21:22 | 1743839 Hi Ho Silver
Hi Ho Silver's picture

+1913

Awesome visual.  Thanks for the new email sig, I'll be sure and give credit.

Thu, 10/06/2011 - 11:10 | 1745703 SilverRhino
SilverRhino's picture

Hank, I was quoting the $163 billion and stating how they spent 3.5 million man-years of $$ in three days but your figure of 323 million man years is for $14.858 trillion of debt.   Damn.   One guy working since the dinosaurs appeared (Triassic period, 225mya) wouldnt make up for that debt.   

Wed, 10/05/2011 - 17:27 | 1742962 max2205
max2205's picture

Come on this money was just an advance payment for shit like this. Wait till you see the whole bill

Wed, 10/05/2011 - 16:26 | 1742714 HelluvaEngineer
HelluvaEngineer's picture

Nah, Timmy is just buying some NFLX.

Wed, 10/05/2011 - 21:28 | 1743853 mailll
mailll's picture

Keep printing Uncle Ben, Uncle Sam needs every bill that comes out of the press, since foreigners aren't buying our debt anymore.  If it wasn't for total secrecy, we'd all know what you guys (Fed, Treasury dept.) are up to. Just let us know in advance when you are about to pull the plug and crash everything.

Wed, 10/05/2011 - 16:19 | 1742663 Caveman93
Caveman93's picture

Amerika..chuggin along at a snails pace $2 and a quarter billion dollars per hour. We're sooo fucked!

Wed, 10/05/2011 - 16:23 | 1742686 Almost Solvent
Almost Solvent's picture

Instead of the FED, Congress should just get a Black AMEX with no limit and earn some fucking points while they are making their minimum payments. 

 

 

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