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US Celebrates $15 Trillion In Debt By Announcing Latest $99 Billion Forward Issuance Calendar

Tyler Durden's picture




 

Barely has America had the pleasure of enjoying its new found status as a 15-handle country (as in $15 trillion, or $15,033,607,255,920 to be specific) that the US Treasury went ahead and announced its latest forward issuance calendar of $99 billion in bonds and $11 billion in TIPS. Sure enough, by the end of next week, total US debt will be greater by $62 billion including a Bills auction, bringing the revised total to just under $15.1 trillion, and less than a $100 billion from the re-re-revised debt ceiling, even as the Supercommittee is deadlocked beyond fixing. Also, this means that even assuming the Q3 GDP is not revised lower, total debt-to-GDP will almost certainly surpass 100% by the end of the calendar year since December will have at least another $100 billion in issuance net of redemptions.

Source: US Treasury

 

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Thu, 11/17/2011 - 16:08 | 1888480 GeneMarchbanks
GeneMarchbanks's picture

15T Reasons to be Thankful this system is without fraud.

Thu, 11/17/2011 - 16:08 | 1888490 redpill
redpill's picture

"Treasury Inflation-Protected Securities" has become the most absurd oxymoron the world has ever known.

Thu, 11/17/2011 - 16:12 | 1888510 GeneMarchbanks
GeneMarchbanks's picture

"Just the TIPS?"

Thu, 11/17/2011 - 16:13 | 1888522 redpill
redpill's picture

Heh, reminds me of ZH posting about "Italy-pregnant Blackrock" the other day.

Thu, 11/17/2011 - 16:15 | 1888542 a growing concern
a growing concern's picture

Just the tip?

Thu, 11/17/2011 - 16:12 | 1888516 WTF_247
WTF_247's picture

Dont worry, they will soon rewrite what is considered "inflation", just like the did not interpret Greece to be a default event ...

 

Those buying these will get totally hosed.

Thu, 11/17/2011 - 17:32 | 1889146 Poetic injustice
Poetic injustice's picture

In fact they are 100% true.
When you default and move to new currency, inflation automatically is 0.
Now security is something funny, there.

Thu, 11/17/2011 - 17:49 | 1889228 fonestar
fonestar's picture

I think Bass would say something like, "um, okay let's talk about that for a second..."

Thu, 11/17/2011 - 18:21 | 1889333 Temporalist
Temporalist's picture

Here's a TIP.  If TIPS ever were to perform you'd never get your FRN's back or you'd need a dumptruck to use them.

Thu, 11/17/2011 - 16:10 | 1888502 Matt1973
Matt1973's picture

Thanks again Obummer...are you happy with your experiment now American media?  What a disaster.

Thu, 11/17/2011 - 16:16 | 1888552 sabra1
sabra1's picture

and my avatar thinks that his family will be able to walk the streets safely! oh daddy! why are we forsaken? and what are you doing on that street lamp daddy? cover your neck before you catch a cold, daddy!

Thu, 11/17/2011 - 17:50 | 1889237 fonestar
fonestar's picture

Can't wait to see those stooges like O'Reilly dragged into the streets, heads shaved and pelted with eggs..

Thu, 11/17/2011 - 16:11 | 1888507 WTF_247
WTF_247's picture

If more is better then why stop at a lousy 100bil??  What retards.  Ramp that up to 1 trillion a month.  Free iPads for everyone!  Free housing yeah!  Free Food yeah!  

 

Well, they will cheer for about 5 months until it all collapses, but it will be one hell of a party ...

Thu, 11/17/2011 - 16:13 | 1888527 centerline
centerline's picture

So, what I am supposed to do to celebrate?  I would think that going out recklessly charging something on credit useless would be appropriate.

Thu, 11/17/2011 - 18:58 | 1889473 RafterManFMJ
RafterManFMJ's picture

 

 

Do what I do to celebrate - go outside and fire a 40 round mag from you AK right up in the air - like all banana republic citizens celebrate.

Thu, 11/17/2011 - 16:13 | 1888528 youngman
youngman's picture

Obama used to give a speech a day...how come he is not speaking about this...this is one of his greatest accomplishments...doubling the debt in 3 years...the man is good...say it...

Thu, 11/17/2011 - 16:14 | 1888533 LawsofPhysics
LawsofPhysics's picture

Well that explains where some of the money went today.  Front running much?

Thu, 11/17/2011 - 16:14 | 1888536 dick cheneys ghost
dick cheneys ghost's picture

dont forget to celebrate the new military base in Australia..........

Thu, 11/17/2011 - 16:16 | 1888549 redpill
redpill's picture

How ridiculous was that anyway.  These morons are pee swordfighting China in the little boys room while the financial foundations of the western world crumble beneath our feet.  Nero would be jealous of such trivialities, fiddling doesn't begin to describe it.

Thu, 11/17/2011 - 16:28 | 1888644 blu
blu's picture

They must maintain the semblance of normality at any cost.

If it means they have to sometimes pee sword fight, so be it. The people expect it.

Thu, 11/17/2011 - 16:16 | 1888551 JustObserving
JustObserving's picture

Why are you focusing on the minnow while ignoring the whale?  Unfunded liabilities are $116.4 trillion and growing at $6.5 trillion a year.  Medicare will be bankrupt by 2017.  If US finances were evaluated under GAAP, you would add the $116.4 trillion to the $15 trillion.  Why does the US get a pass on truthful and accurate accounting?

http://www.usdebtclock.org/ 

Thu, 11/17/2011 - 16:18 | 1888565 redpill
redpill's picture

Shit is escalating rapidly, I think by the time we get to 2017 Medicare liabilities will be a moot point.

Thu, 11/17/2011 - 16:37 | 1888736 JustObserving
JustObserving's picture

It is possible Medicare goes bankrupt by 2015.  It was supposed to go bankrupt by 2019 just last year.  Every year of escalating medical  costs brings the date of reckonining closer.  It is politically impossible to eliminate Medicare. So it is like a true liability - not an avoidable one. But who knows what may happen by 2015.

Thu, 11/17/2011 - 16:46 | 1888829 redpill
redpill's picture

You can put off reality like putting off a trip to the dentist.  The longer you wait, the worse it becomes.  Eventually the lack of foresight, responsibility, and prudent planning will come home to roost, and the ugly truth is that we will see draconian cuts in these "mandatory oblgiations" and the fallout of that is going to be severe.

Thu, 11/17/2011 - 19:17 | 1889558 lolmao500
lolmao500's picture

They'll start nuclear war before being accountable for anything.

Thu, 11/17/2011 - 16:18 | 1888567 cherry picker
cherry picker's picture

My apologies toTyler and the Zero Hedge team, as I questioned and started to doubt the veracity of their economic doomsday prophecies.

It appears they are right in their analysis and conclusions.

Thu, 11/17/2011 - 16:22 | 1888588 Stax Edwards
Stax Edwards's picture

Why do you say that?  Cause the markets are down on liquidity issues?  Cmon man get your head out of your arse.

Thu, 11/17/2011 - 16:24 | 1888614 blu
blu's picture

Not that it takes a lot of smarts to report the end of this world. All you have to be is honest. A child can see what's happening.

"A child of five would understand this. Send someone to fetch a child of five." -- Groucho Marx

Thu, 11/17/2011 - 16:19 | 1888573 Kaiser Sousa
Kaiser Sousa's picture

cue music -

"nobody does it better....."

Thu, 11/17/2011 - 16:20 | 1888574 arizona11912
arizona11912's picture

And the party continues...

Thu, 11/17/2011 - 16:20 | 1888576 LouisDega
LouisDega's picture

15 jumbo... Damn, Thats a huge shit sandwich.

Thu, 11/17/2011 - 16:20 | 1888580 blu
blu's picture

Good to know we're still on schedule.

They can't run a country, but they can run a country into the ground like real men.

Thu, 11/17/2011 - 16:22 | 1888591 SHEEPFUKKER
SHEEPFUKKER's picture

Where do I sign up for a credit card with no limit and under 2% interest rate? That sounds like a great deal. 

Thu, 11/17/2011 - 19:01 | 1889487 RafterManFMJ
RafterManFMJ's picture

Where do I sign up for a credit card with no limit and under 2% interest rate? That sounds like a great deal.

 

Uh-oh, Greece is now posting on ZeroHedge.

Thu, 11/17/2011 - 16:44 | 1888596 SHEEPFUKKER
SHEEPFUKKER's picture

Fuck, I'm still hungover from last night's celebration. I guess it's time to start partying again. 

Thu, 11/17/2011 - 16:37 | 1888603 catch edge ghost
catch edge ghost's picture

Eh.  Round it up and report it as 24 x 1012.  It conserves space and it will be a few years before you have to update it to 25 x 1012.

 

Thu, 11/17/2011 - 16:27 | 1888636 mfoste1
mfoste1's picture

is it time to party like its october 1929 yet?

Thu, 11/17/2011 - 16:30 | 1888665 yogibear
yogibear's picture

Before you know it we'll be at 20 trillion. Not stopping until US credit card is rejected. Spend on all! Just charge to Asia.

Thu, 11/17/2011 - 16:36 | 1888721 The Fonz...befo...
The Fonz...before shark jump's picture

this is my last fix I PROMISE

Thu, 11/17/2011 - 16:57 | 1888920 alagon
alagon's picture

Who cares? Breaking Dawn came out!

Thu, 11/17/2011 - 17:16 | 1889049 Alex Kintner
Alex Kintner's picture

So Ben Bankster has been gobbling up worthless MBS in the QEx programs. Making the taxpayer pay 100 cents on the dollar for all that MBS junk worth less than a penny. Is that $1-2Trillion debt wad included in this $15T debt number?

Thu, 11/17/2011 - 17:18 | 1889061 Greenhead
Greenhead's picture

Don't worry, be happy.  Why in the world would we slow spending now?  There is an election coming up and the juice has to flow so the ins get to stay ins.  The American public wants things to feel normal so money keeps being printed and the fedgov keeps spending.  Whats not to like?  We can pretend things are somewhat "normal", nevermind that so much of our economy is based on the false illusion of debt.  We continue to try to accellerate purchases from the future into the present by hypothecating our income stream in ever increasing quantities.  When there isn't enough income to service the debt and pay our lifestyle expenses, then what? 

Printing or allowing the Fed to monetize isn't the answer.  Sure the beneficiaries of the immediate influx of fedcash get a pop but the rest of us pay by having the purchasing power of our money and income be destroyed and devalued.  At least with deflation, those who indulged the most are the ones at greatest risk.  Not that I advocate suffering but it is fitting when the pain of the hangover is felt by those who partied most.

Thu, 11/17/2011 - 19:03 | 1889494 RafterManFMJ
RafterManFMJ's picture

 

 

Sadly, as a white, working middle-class American, I've yet to see any Obama money. Pretty sure that's 'cause he be rayciss.

Thu, 11/17/2011 - 17:21 | 1889086 TomTraubert
TomTraubert's picture

I always knew the end would come in my lifetime, I'm just glad it's not my fault. 

 

Thu, 11/17/2011 - 17:49 | 1889227 SilverIsKing
SilverIsKing's picture

Tyler,

May I suggest a thread in which ZHers offer their prediction as to the date the U.S. breaches the $16T debt mark?

Perhaps the person closest to the correct date wins a ZH T-shirt with this caption on the back:

"I just went into another trillion in debt and all I got was this ZH T-shirt."

Thu, 11/17/2011 - 18:24 | 1889340 Temporalist
Temporalist's picture

I'd like to see some Tees for todlers that say:

"I was born in the U.S. and all I got were these debt shackles."

or

"Grandpa Greenspan's Debt Baby"

Thu, 11/17/2011 - 19:04 | 1889502 RafterManFMJ
RafterManFMJ's picture

 

 

LOL you really think these kids are gonna pay 80% of thier income to keep granny livin' large? Oh, HELL NO!  

Thu, 11/17/2011 - 23:07 | 1890118 mbtshoe
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