Total US Debt Increases By $1 Trillion In One Month

It took the US over two centuries to accumulate its first trillion dollars in Federal debt, a number which was surpassed for the first time in the fourth quarter of 1981.

Fast forward less then 40 years to today, when according to the US Treasury, total US debt just surpassed $26 trillion, or $26,003,751,512,344.91 as of June 9, to be exact.

What is stunning, however, is the recent pace of increase: total debt was "only" $23.5 trillion on March 23, the day the Fed unleashed unlimited QE, meaning that in two and a half months, the US has added $2.5 trillion in debt.

And the punchline: the US added the last trillion dollars in the shortest time on record, achieving this remarkable feat in just one month, since May 4, when total debt was just under $25 trillion.

For context, here is total US debt since the start of the century.

In light of this unprecedented helicopter paradrop of debt, something tells us that the Fed's schedule released today of monetizing "only" $80 billion in Treasurys each month, or about $1 trillion per year, will not be sufficient.