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US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP, $14 Billion From Breaching Debt Ceiling

Tyler Durden's picture




 

While not news to Zero Hedge readers who knew about the final debt settlement of US debt about 10 days ahead of schedule, it is now official: according to the US Treasury, America has closed the books on 2011 with debt at an all time record $15,222,940,045,451.09. And, as was observed here first in all of the press, US debt to GDP is now officially over 100%, or 100.3% to be specific, a fact which the US government decided to delay exposing until the very end of the calendar year. We wonder, rhetorically, just how prominent of a talking point this historic event will be in any upcoming GOP primary debates. And yes, technically this number is greater than the debt ceiling but it excludes various accounting gimmicks. When accounting for those, the US has a debt ceiling buffer of... $14 billion, or one third the size of a typical bond auction.

 

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Tue, 01/03/2012 - 19:30 | 2030787 johny2
johny2's picture

It is only 15 trillion. I bet Bernanke can print it under 15 minutes.

Tue, 01/03/2012 - 19:31 | 2030790 Your Creator
Your Creator's picture

Speed up we're about to hit the wall!!!!!!

Tue, 01/03/2012 - 19:33 | 2030796 ZeroPoint
ZeroPoint's picture

Nothing to fear until the EBT cards stop working. Then it will be like the plot of DEFCON4.

Tue, 01/03/2012 - 19:36 | 2030803 SheepleLOVEched...
SheepleLOVEcheddarbaybiscuits's picture

if you live in iowa, stop reading this and go vote for RON PAUL

Tue, 01/03/2012 - 19:36 | 2030804 Dr. Engali
Dr. Engali's picture

What the hell is the deal with all these pussies and their fake tears in Iowa? Who in the hell do they think they are fooling? Perry is crying his eyes out now. Crying because Ron Paul opened up a can of whoop ass on his ball baby ass.

Tue, 01/03/2012 - 19:52 | 2030842 Parabolic
Parabolic's picture

GIVE IT BAAAAAACK!!!!

FIRST LADY OF LUXURY TRAVEL: HIGHLIGHTS FROM THE OBAMAS' LAVISH GETAWAYS OVER THE PAST 12 MONTHS

GIRLS' TRIP TO SPAIN: AUGUST 2010

The exact cost is unclear as Mrs Obama and her 40 friends footed many personal expenses, such as hotels and meals themselves.

But the U.S. taxpayer would have paid for the First Lady's 68-strong security detail, personal staff, and use of presidential jet Air Force Two.

Per diems for the secret service team runs at around $281 each - nearly $98,000 for the length of the summer break.

Use of Air Force Two, the Air Force version of a 757, comes in at $149,900 for the round trip. This does not include time on the ground.

Mrs Obama's personal staff, of which there are an unknown amount and might cost considerably more per day, should also be taken into account.

CHRISTMAS BREAK IN HAWAII: DECEMBER 2010

According to the Hawaii Reporter, the bill for the $1.5m trip included:

  • $63,000 on an early flight bringing Mrs Obama and the children to Hawaii ahead of the President.
  • $1,000,000 on Mr Obama’s return trip from Washington on Air Force One.
  • $38,000 for the ‘Winter White House’ beach property rental.
  • $16,000 to rent nearby homes for Secret Service and Navy Seals.
  • $134,000 for 24 White House staff to stay at the Moana Hotel.
  • $251,000 in police overtime.
  • $10,000 for an ambulance to be on hand at all times 

SKI TRIP TO VAIL: FEBRUARY 2011

Mrs Obama and her daughters stayed at the Sebastian hotel on Vail Mountain, where rooms cost more than $2,400 for multi-bedroom suites.

The family appear to have flown there on Air Force Two.

They were escorted to the resort by a motorcade of about a dozen vehicles, including 15 state and local law enforcement officers

SUMMER HOLIDAY ON MARTHA'S VINEYARD: AUGUST 2011

The Blue Heron Farm estate, where the Obama family are currently staying, rents for about $50,000 a week.

According to U.S. News and World Report, the Coast Guard is required to keep ships floating near the property, the presidential helicopter and jet remain at the ready and security agents will be on 24-hour duty.

Read more: http://www.dailymail.co.uk/news/article-2029615/Michelle-Obama-accused-spending-10m-public-money-vacations.html#ixzz1iRUGtFbX  

Tue, 01/03/2012 - 21:12 | 2031084 chump666
chump666's picture

Disgusting.

And Obama's gift for the year new, oil inflation which is a convert tax.

Tue, 01/03/2012 - 20:01 | 2030858 Moe Howard
Moe Howard's picture

Can't we get that guy who was just busted at walmart trying to buy a microwave and some other stuff with a million dollar bill to print up 15 trillion dollar bills so America can pay it's bar tab and move on? Just wondering what is preventing that.

 

Does anyone have change for a trillion?

Tue, 01/03/2012 - 20:02 | 2030869 Everybodys All ...
Everybodys All American's picture

I find it completely amazing that Obama gets a pass on this. Still has yet to pass/produce a budget.

I think if he does win another four yrs it very well could usher in a repudiation of liberal spending once and for all. Because the collapse will be inevitable.

Tue, 01/03/2012 - 20:05 | 2030874 non_anon
non_anon's picture

at this point of no return, fuck it, keep those printing presses going into infinity and blow this bitch up!

Tue, 01/03/2012 - 20:11 | 2030883 Ghostmaker
Ghostmaker's picture

Any comments from the Ron Paul folks about the apparent George Soros connection?

http://www.examiner.com/jewish-culture-in-philadelphia/barney-frank-defe...

Tue, 01/03/2012 - 21:17 | 2031101 Hephasteus
Hephasteus's picture

George Soros backs me as well. I go to banks and take out any amount of money and he pays me to spread my bullshit propaganda.

Tue, 01/03/2012 - 20:11 | 2030884 Dr. Engali
Dr. Engali's picture

Placed my first ever trade on intrade today. Picked Ron Paul to win.

Tue, 01/03/2012 - 20:12 | 2030889 putbuyer
putbuyer's picture

Mark Levin just mentioned ZH live on his show.

Tue, 01/03/2012 - 20:58 | 2031015 Dr. Engali
Dr. Engali's picture

Mark Levin is an asshole who trashed Ron Paul.

Tue, 01/03/2012 - 23:10 | 2031470 putbuyer
putbuyer's picture

NO. You are. Paul I agree with 80%, the 20% part, he is a flake like you dummy. Levin is a genius and I'll kick your ass.

Tue, 01/03/2012 - 20:13 | 2030890 krispkritter
krispkritter's picture

What are you guys worried about? I'll just put this on my BoA Business Visa credit card and it'll all be over and one with...wait a minute, WTF? What do you mean you cancelled it! You bastards! That's my friggin' money! I want it back NOW! I'm calling...uh, your, uh, Customer Service...uh...shit...

 

(PS. In 2009, BoA took a $15k business credit line to $1k, no explanation, no late payments(ever), not even a balance, just woosh...)

Tue, 01/03/2012 - 20:25 | 2030909 rsnoble
rsnoble's picture

At these point in the game it's way too obvious how all this is connected with the NWO horseshit.  I won't be going along with it.  And that's what NDAA is for.  Good lord, why couldn't a huge asteroid just wipe DC and Wallstreet off the fucking map?

Tue, 01/03/2012 - 20:29 | 2030925 rsnoble
rsnoble's picture

I mean really, NAFTA worked so well now they vote in more free trade?? Who the fuck are they kidding?  That's how they are. They have a plan.  They stick to it.  They know that we know what they're up to. But they do it anyway.  Then they fucking announce it as good news on top of it.

There's only one way to beat these motherfuckers.  And until these soft spineless fucking wimps that are 90% of Americas pull their goddamn heads out of their fat fucking assholes you can just fucking forget it this country is GONE.

Tue, 01/03/2012 - 20:47 | 2030964 CrockettAlmanac.com
CrockettAlmanac.com's picture

NAFTA had as much to do with free trade as the Patriot Act had to do with protecting America or Operation Iraq Freedom had to do with the freedom of Iraqis.

Tue, 01/03/2012 - 20:58 | 2031013 rsnoble
rsnoble's picture

"free trade" means free for the corporations to screw whoever they want.  And im sure there's much more to it than that.  Hell im 50 miles from the NAFTA superhub.  I tell people about all the time.  I haven't ran into ONE person that has any interests in going to see it, nor talk about it.  People do NOT care.

And what's worse than not caring are all the people that "can't handle" the discussion.  It's all crazy talk to them, they refuse to believe anything so horrible could happen to them.  I don't know what the hell is going on but apparently the same shit that's in their water sure's the hell isn't in mine!

Tue, 01/03/2012 - 21:10 | 2031073 CrockettAlmanac.com
CrockettAlmanac.com's picture

"Free trade" as in North American Free Trade Agreement is for the rich and powerful. Real free trade is for everyone. A free market simply means that all 7 billion inhabitants on planet Earth have a right to enter into voluntary agreements with others and to exercise control over their own lives.

Tue, 01/03/2012 - 20:33 | 2030930 rsnoble
rsnoble's picture

And one last rant to all the fucks that think Jesus is going to save the day.  Look at any other horrible moment in history.  Was Jesus around to save all the people from Dracula shoving poles up their assholes and out thru their mouths?  Did Jesus come to the rescue of those in concentration camps?

If this pisses you off then good.  I have news for you.......you're god isn't some fucking fairy tale asshole in the sky........you're god is Smith&Wesson.  Grow a fucking brain.

Tue, 01/03/2012 - 20:47 | 2030965 URZIZMINE
URZIZMINE's picture

Take 3 of your avitars.  It will cool you off, Dude.

Tue, 01/03/2012 - 20:50 | 2030979 rsnoble
rsnoble's picture

LMAO. I think I need to hit the jager. But ill have to put the breathalizer on the PC otherwise ill wake up in Gitmo.

Tue, 01/03/2012 - 20:48 | 2030973 rsnoble
rsnoble's picture

BTW im not trying to knock anyones religion.  I actually had a couple from a church pull in my driveway today and ask me if I was prepared for what's coming.  I asked them if they wanted to come in and see my gun collection.  They actually laughed. It was a civil conversation.  I'm just trying to say that just because you dress in nice clothes and go pray on sundays isn't going to save you.  You have to keep in mind with the crazy bastards we deal with.  I assure you they view church as a mass gathering of people and potential bomb target.  Seriously, they are for themselves and that's it.

Tue, 01/03/2012 - 20:51 | 2030987 CrockettAlmanac.com
CrockettAlmanac.com's picture

Muslims died on Vlad's spikes and Jews died in the concentration camps. They probably weren't looking for assistance from Jesus.

Tue, 01/03/2012 - 21:04 | 2031039 rsnoble
rsnoble's picture

Dude seriously?  The point is that if you don't act you'll be led to slaughter also.  Next thing you'll tell me is that you're different because you actually pray to Jesus. LOL. 

Tue, 01/03/2012 - 21:11 | 2031080 CrockettAlmanac.com
CrockettAlmanac.com's picture

Why would I tell you that? I'm an atheist.

Tue, 01/03/2012 - 21:24 | 2031136 rsnoble
rsnoble's picture

Well good then.  You won't have any reason to not see straight.

Tue, 01/03/2012 - 21:26 | 2031143 blunderdog
blunderdog's picture

What do you mean?  He took away the sins of the world and we're blessed with God's mercy.  It doesn't matter what happens on Earth--if you're good and accept God, you go to heaven, and that's all that matters.

Shooting people is not a good way to spend an eternity in paradise. 

Christ never told anyone this would be EASY.  They crucified that poor fucker.

Tue, 01/03/2012 - 21:41 | 2031183 rsnoble
rsnoble's picture

Sorry I don't buy any of that. I pretty much believe what George Carlin said that "religion is the biggest bullshit story of all time."  "Jesus loves you...........and he needs money!" LMAO.  And then there's the other 500 religions or whatever in the world that believe something totally different.  Then we still have the idiots that think the bible was written by God.  I was going to put my boat in the river this summer and look for dinosaur bones until I read that there never were dinosaurs and that it was just a trick by Satan. I'm sorry......but with bullshit like that you're not helping your case out very much.

Tue, 01/03/2012 - 20:42 | 2030945 Snakeeyes
Snakeeyes's picture

Amazing. And it will not end. The powers that be want to keep spending and borrowing. We are becoming numb to the disaster that is approaching. Debt PLUS unfunded liabilities. What a mess.

http://confoundedinterest.wordpress.com/2012/01/01/the-federal-unbalance...

 

 

 

Tue, 01/03/2012 - 20:43 | 2030948 Fix It Again Timmy
Fix It Again Timmy's picture

We broke a record?  Wow!  Let's do it again.  It's a good thing, right?

Tue, 01/03/2012 - 21:18 | 2031105 Jlmadyson
Jlmadyson's picture

Made drudge. Though there are a lot moe stories from here that should be on there all the time and this one should be headline. Cannot care much for elections when no one can save this Titantic.

Tue, 01/03/2012 - 21:40 | 2031180 besnook
besnook's picture

deficits matter, bitchez!

Wed, 01/04/2012 - 03:30 | 2032064 tianya201
tianya201's picture

Nehmen Sie an diesem vorgewählten Belstaff lederjacke herren insgesamt sieben Kandidaten. Zusätzlich zu den grundlegenden aufzugeben Iowa, der frühere US-Botschafter Jon Huntsman, wurden die restlichen sechs alle in Iowa an diesem Tag. Nach den Ergebnissen der Umfrage,Belstaff jacket der ehemalige Gouverneur von Massachusetts Mitt Romney, Rep. Ron Paul, Texas, und der ehemalige Senator Rick Pennsylvania Santos Haslem Unterstützung für die Führung. Doch etwa 40% der Wähler bei den Vorwahlen noch ändern Belstaff Jacken herren können ihre Unterstützung für das Objekt, so der ehemalige Sprecher des Repräsentantenhauses Newt Gingrich und Gouverneur von Texas, Rick Perry und die Minnesota House of Representatives nicht Belstaff Tasche keine Chance, von hinten kommen.
In Iowa wurde die Landeshauptstadt Belstaff lederjacke damen Höhepunkt der zwei Wahlen, Hunderte von Wählern in der Szene registriert in der Nacht nach der anderen, um bei den Vorwahlen Belstaff Jacken damen teilnehmen.
Canada Goose Parka,canada goose jakke,MBT zapatos,MBT España

Wed, 01/04/2012 - 04:03 | 2032094 xyz2011
xyz2011's picture

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Wed, 01/04/2012 - 09:59 | 2032430 Watauga
Watauga's picture

trav7777--You wrote that "Obama did not have control of the Budget until well after the election."  That may be true, but the DEMOCRATS had control of the budget from 2006 onward through 2010.  Now, to me, Bush, Obama, Paulson, Geitner, Bernanke, Pelosi, Reid, Frank, Boehner, McConnell, McCain. . .   are all the same wrt both their treachery and their responsibility for the mess we are in.  They all got into bed with their donors--mostly Wall Street bankers--and did their bidding.  That is how we got into the mess.  But, if I have to put Republican crimes and Democrat crimes on separate sides of the scale, the Democrat crimes far outweigh the Republican crimes.  It is time, in any case, to rid our Republic, or what is left of it in the smoldering remains of the Constitution, of BOTH of these Parties.

Wed, 01/04/2012 - 11:32 | 2032720 MorningStar
MorningStar's picture

$15 Trillion!!  Well, Obama said there would be change didn't he?  This is the news you'll only find here.  Not even FOXNEWS talks about this.  Good Job.

Wed, 01/04/2012 - 11:40 | 2032744 Your Creator
Your Creator's picture

Diamond Top Nasdaq.

Wed, 01/04/2012 - 13:24 | 2033115 Chump
Chump's picture

Linked on Drudge.

Mon, 07/23/2012 - 03:39 | 2641723 AmeliaV
AmeliaV's picture

We broke new and new records, so now we got more than $1 trillion in student loan debt and $15 trillion in total public debt. The problem is that our economy is a debt - based. Maybe more than any other countries in the world we have opportunities for borrowing money, and we use them. Just take a look, borrowing money is everywhere, it's enough to say that 28% of Americans do not have energency funds and do not save money for a rainy day. They rely on borrowing because they know that it's always possible to use a credit card, take out a loan, cashadvance, mortgage, open a line of credit and etc. On one hand it's good that we have a freedom of choice and can choose how to solve our financial problems and have lots of alternatives for that, but on other hand it just get most of us deeper and deeper into the debt.

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