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US Closes 2010-2011 Fiscal Year With $14,790,340,328,557.15 In Debt, $95 Billion Jump On The Day, $1.2 Trillion Increase In One Year
America has now officially closed the books on the 2010-2011 fiscal year. It is only fitting that the last day of the year saw the settlement of all outstanding and recently auctioned off debt. The result: a surge of $95 billion in total government debt overnight, and a fiscal year closing with the absolutely unprecedented $14,790,340,328,557.15 in debt. Net net, in the past fiscal year, the US has issued a total of $1.228 trillion in new debt and has accelerated over time. At a rate of $125 billion per month, total US debt to GDP will pass 100% in just over a month. Incidentally, one may inquire about the benefits of centrally planned fiscal stimulus (cough Solyndra cough): the US economy added over 3$ trillion in debt in the past two years and the stock market is almost back to where it was back then. Perhaps it is about time someone demanded that all those lunatics who say that issuing debt for the sake of growth (and pushing the S&P higher of course) be finally locked away in perpetuity, and the key dropped into the deepest volcano in Mordor.
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One does not simply leverage into Mordor !!
Syrin,
If you're going into Mordor, don't forget to leave a trail of breadcrumbs to get out. :-)
Another hysterical comment! You guys are on fire tonight! Awesome!
Stop sending money to Iraq and Afghanistan and spend it on projects in the US; like cleaning up the Hanford nuclear waste site, or taking care of disabled veterans, or start a new space program to build a Moon base.
I only support bringing back the troops from the Middle East.
Your other suggestions, except disabled veterans are dubious.
I think his Eagle is still circling Moonbase Alpha, if you get my drift.
Moonbase?
Veterans?
Nuke clean up?
WTF! Honey badger don't give a sh1t about that stuff! Honey badger gonna spend some money on his big Keyenesian ideas! Green cars! Green energy! Acorn! Palestinians! UN dues! Free healthcare for all! Print! Print now!
Honey badger says eff off!
Another "...fiscal, never take a riskal, year !".....How to Succeed in Business without Really Trying . Monedas 2011 Every year my respect and awe of Ronald Reagan increases faster than the National Debt !
The 15 cents clearly shows their attention to detail!
Ain’t That A Bitch! http://www.youtube.com/watch?v=yKtWMqW4ICM
Well that $95 billion is almost three Buffets (by wealth). If the government took all of Buffet's wealth, it only covers about 1/3rd that one day jump in the debt.
We're Amerikans! We like being number 1. Even in the debt department. I sure hope China likes American Peso's?
Bankers song - " I'm packin fudge, and I don't care, I'm pacing fudge and I don't care, I'm packing fudge, and I don't care, so wipe yerself off with yer underwear! Thanks for the ride, America! "
Does this figure included all of the money borrowed^h^h^h stolen from gov't pension plans when Timmy used to keep the gov't running from May to Aug?
Don't tell Reggie Middleton about this... He wants everyone to believe it's EUROPE that's going bankrupt.
Don't break his little heart!
yeah but who is counting? free money bitches
use them to buy gold and silver
Gleam in the eye of Set, Bitchez!
15 trillion $'s, is that all? Can you make change for this 100 Trillion dollar note that has the full backing and trust of the United States of Amerika? Problem solved!
Superficially it looks pretty staggering but then you notice that about 70% of that debt is held by off market, not for profit entities.
The U.S. economy is incredibly large and also incredibly diversified. Its advanced financial markets totally rule the world. It and the dollar are the dog on which diverse fleas scurry in panic.
Well, sheeeet, I guess everything is OK; Mr. Cheney says, "Deficits don't matter." We're cleared for take-off...
Everything is most definitely not OK.
We´re in a huge long-term correction as a debt bubble maintaining impossible prices of overabundant stuff collapses. Since the U.S. is the world´s dominant economy by far, the market has been correcting this by quickly elevating the dollar, thus taking down economic input costs into the import-dependent U.S. economy. Markets may seem irrational and even dysfunctional in the short run but in the long run they are always right, not least because they know that they´ll always be there after we are dead and gone.
15 Trillion here, 15 Trillion there, sooner or later you are talking about real money.
Eh, you mean real 'paper' money? Sure, got that covered. As Jeff Foxworthy said(paraphrased) "...A check? Oh, I thought you needed money! Well I'll pay that sucker off in full right now..."
SWASHBUCKLERS, and Cannons I say> Someone has some WET powder?
Americans are the champions of consumption and the American economy is by now about 70% based on private consumption.
At this point this machine has run into impossible levels of debt chasing ridiculous prices while the dollar fell. So, the obvious market reaction to these troubles would seem to be a rising dollar which we have indeed seen.
Here´s the current situation: markets have largely been proven wrong as a result of their archaic economic theory of scarcities and inflation peddling in the face of ballooning technological advances and productivity increases. Markets know this by now, which is why we see all those wild and volatile swings reacting to a rising dollar and deflationary forces.
But wait! I saw a hot reporterette the other night who told me that gold is not as safe as the dollar because unlike gold, the dollar is backed by the strength and credibility of the US Government! She's right, isn't she? I mean, she did take some journalism classes and has an Obama/Biden sticker on her Prius.
What about the children?
Also bear in mind that this bankrupt economic notion of scarcity has allowed stupendous overissuance of shares in the stock market. There are huge stock watering scams even in the revered Dow Jones Industrial Average. IMO about a third of that mess needs to write off worthless stock via reverse splits. Major stock watering scams there are still down 60-80% from the turn of the century.
While they're still at it, they will build our Great Wall soon to keep us safe.
http://www.dailymail.co.uk/news/article-2043894/U-S-officials-considered-building-fence-northern-Canada-border-criminals.html
The Fed's calculator was going to run out of zeros too, so they rent this one from Japan. At 8.162 quadrillion calculations per second, it should hold us for awhile. Wall St also buys access time for HFT LAN parties!!
http://www.popsci.com/gadgets/article/2011-06/japanese-super-k-computer-now-worlds-fastest
When we hit 15 Trillion, everyone needs to go down to the Occupy Wall Street site in their city and then...
...women should dress up as drunk Wall Street Whores, with a golden cup in their hand, filled with red wine
...guys should dress up like a Lion, with a saddle on their back for the Whore, and a plastic baby Christ should be in the Lion's mouth or just any plastic baby that represents the next generation.
http://www.youtube.com/watch?v=Ts5FcPhYVYc&feature=related ...and blast ''Born to Lose'' as everyone dances around.
Well the 'Born to Lose' part and the everyone dancing around is already going on there. How about we just drive by real fast and throw out some soap and toothpaste. Good Lord, I can smell them from here!
And the Rothschilds everwhere smile brightly.
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I am going to send this to my printer and bring it to work to show my colleagues who always claim that the US government is doing all it can to reduce debt. This is madness!
Kathy - http://www.cartridgeshop.co.uk/Catalog/160/Cheap-Canon-Printer-Ink-Cartridges-From-Cartridge-Shop.html