As US Closes June With $15,856,367,214,324.44 In Federal Debt, US Debt/GDP Hits Post WWII High Of 101.5%

Tyler Durden's picture

Last week's bond auctions have finally settled and the numbers are in. As of the last day of June, the US had a record $15,856,367,214,324.44 in debt, a $75 billion increase overnight, and a post World-War II high Federal debt/GDP ratio of 101.5%.* That is all.

* Assuming GDP in Q2 grew at a 1% sequential rate, which in light of the global economic contraction, is quite generous.

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sunaJ's picture

Somebody had to buy all those bonds at auction.  Didn't know it was you and me, did you?

Manthong's picture

And it seems like just a few short months ago it was less than 100%.  Oh wait…

veyron's picture

Soon we'll find out that the computer programmer accidentally multiplied the gdp number by 2, so that we actually are above 200% debt to gdp ...


Just a rounding error. 

knukles's picture

Seasonally adjusted rounding error

Harlequin001's picture

Well done guys, that's nearly $1 trillion for a postage stamp, yet to b e priced in...

Stackers's picture

I wonder what the percentage is if GDP was recalculated using the old method from 30 years ago ?

knukles's picture


Like unemployment would be closer to U whatever at 20%+.


Good thought....

economics9698's picture

122% with state and local.

NotApplicable's picture

You really don't want to know.

Besides, until government spending is removed from the GDP equation, it will never measure growth, but instead, only consumption.

DaveyJones's picture

It's good to break a US and Olympic record.

A gold medal is the only appropriate response

The Watchman's picture

I'm so tired of talking trillions. Ben needs to add a couple of zeros to the discussion. Wake me up when we're talking quadrillions.

Anonymouse's picture

Do they make tungsten medals?

Maybe that's why incandescent light bulbs were banned.  We need the tungsten for national security purposes.

Buck Johnson's picture

Yep we are buying are own debt, but in this twisted economic world thats not considered bad at all.

stocktivity's picture

It's all Bullshit!   The Fed prints more $$$ out of thin air to buy more debt and keep the markets up. All in the hope that stupid Americans will see their 401 K rising and thus spend more money now.

Blankenstein's picture

Being good little sheeple, they are falling for it hook, line and sinker.   In the Chicago area they are spending it on expensive homes.  It's unbelievable the number of "under contract" homes in my area.  The NAR propaganda campaign worked like a charm.  The prices aren't much off the highs of the bubble either.  IT'S CRAZY!

ghostfaceinvestah's picture

It sure is nice to be able to print your own currency.

pods's picture

Au Contraire mon frere!

There is no printing until after it is borrowed (with interest) in existence.


Mr Lennon Hendrix's picture

Except in special cases, like TARP, STIMULUS, QE....

QE 2, OT2, POMO....


When the PBoC does a 4T Yuan bailout....

When the BoJ buys ETFs, when the BoI buys AAPL....

Hmmm, maybe monetary policy is no longer so extraordinary?

LawsofPhysics's picture

Can't wait for all that fiat paper to find it's way back into the real economy, could be fun.  But then again, how much of that is simply going to service debt?  Sounds like capital mis-allocation and mal-investment to me.

Mr Lennon Hendrix's picture

Central Bank shit smells like roses.

This is bullish, by the way.

JeffB's picture

The Fed can do that by buying Treasuries whenever they want.


pods's picture


And what are treasuries?


Peter Pan's picture

As they say, luck cannot protect you from stupidity forever. The US is lucky it can still print but deep down we know the US is on borrowed time.

What I have noticed is that people have cried wolf so many times without a collapse having taken place, that a dangerous sense of complacency has set it.

The collapse is however in motion but is not greatly noticeable because the whole world is more or less sinking.

OutLookingIn's picture

Its a frame by frame, slow motion train wreck!

Citxmech's picture

Ha ha - this is like a fleet of Titanics all reporting their respective seaworthiness based upon the height of their decks in relation to all the other sinking ships!


Linus2011's picture

"i need some change" that is what social worker obama said.

not "change" as all the americans heard

veyron's picture

Problem is that there are no african americans in that south park scene.  It was all white people ...

The Swedish Chef's picture

"I want all the change and the notes too" is apparently what he meant...

brewing's picture

obama - that's all we need is another black guy panhandlin for change...

ArkansasAngie's picture

The only question I have about "the debt" is whether we will surpass the ceiling before or after the election.

But hey ... who cares about the debt when we don't even bother to have national budgets anymore.

Imaginary numbers in the sky only matter to the 1%'ers

Dr. Engali's picture

Brother can you spare an aircraft carrier? I'm good for it I promise.

bdiggs77's picture

Greece was in same position 2 years ago!


Linus2011's picture

looks like you americanos pay in quadrillions at the bakery soon as well.

that is probably why you guys all drive big pick-ups!


falak pema's picture

how long can the US continue generating a current account deficit of 3-6% per yr of gDP?

with a debt that is already in the never-never zone; >90% of GDP.

Its asking the world to kick uncle greenback up its obese ass! Exorbitant privilege will get butt bashed, whatever happens in Nov 2012. 

And ALL these PD banks and HFs can think about is to go rob the Euro cupboard! What a cannibalistic world of oligarchs. 

francis_sawyer's picture

 "how long can the US continue generating a current account deficit of 3-6% per yr of gDP?"


& the chanting begins... 4 more years!... It's all about 'HOPE & CHANGE dontcha know?

Zymurguy's picture

Yes!  I HOPE they CHANGE the speed of the printing presses... turn it up to 11


BooMushroom's picture

Interesting train of thought: what would be the best length of a hyperinflationary collapse, for the muppets to manage to survive it?

dizzyfingers's picture

I think it was Wall Street Greek that said debt to GDP is 101.5% "now"...but I didn't look at the date on the article.

When those percentages are figured, is it done by some guv agency like BLS or is it real... well, like if it were on a chart here?

hannah's picture

if we 'only' has $15bil i will eat my own shit.......

Seasmoke's picture

good thing we have that retractable roof on the debt ceiling

A Lunatic's picture

Debt Schmet. What the printing presses won't cover; fear, intimidation, and drone attacks will...........

Euro Monster's picture

Where is the champagne?

Endgamer's picture

Our children will be good for it.



Miffed Microbiologist's picture

This would be a good reason not to have children. Unfortunately too late for me. Ours is going to be an interesting " golden" years. I shudder to think what theirs will be. Frightening times ahead.