US Debt Clock

[Praying]

If Obama is elected again, then the debt will probably be 20+ trillion by January of 2017 if everything keeps going as is.


You really think it'll take that long? I'm thinking it could get to 20+ trillion within a year or two. Bush added 4 trillion (give or take) during his 8 year term, leaving us with 9.849 trillion when he left office. Our current one has increased it by over 5 trillion in only 3 short years. You really think it will take him 5 years to get it to 20+ trillion?
(Here's the old article I got my information from) http://www.cbsnews.com/8301-500803_162-4486228-500803.html
I think we will all be surprised just how quickly that number can rise and get to 20+ trillion.

[$teve]

Interesting post. US debt continues to increase and I bet as a percentage of GDP, it will exceed 100%, if it hasn’t already. If GDP shrinks, then that percentage of debt to GDP will be even higher? I understand two things in favor of the US situation i) CONfidence and ii) The Fed can print unlimited and unabated. This again in turn inspires confidence and in times of global economic trouble, investors pour their money into US treasuries, which keeps yields low. I just imagine the chaos and disaster of skyrocketing interest rates on US debt, but then think well the Fed would just step in and buy it up in gobs anyway, just like the ECB did in Europe to bring calm and stability at the bond auction sales.

What I do know is that this is in no way sustainable. Something is going to cave and appears will do so pretty shortly. Europe is a ticking time bomb. China too could have a hard or ‘rough’ landing. There will be little recourse to arrest the collapse of the world financial and economic systems which has been ongoing for several years, only propped up by heavy central bank intervention, historically low interest rates and TARP and such polices. This is one of the reasons I follow this because its like witnessing a slow motion car wreck. European leaders have failed to find any solid solutions to their debt crises and other countries now, including my home country Australia, are beginning to really feel the adverse effects of global economic slowdown and financial crises overseas.

[WVBORN56]

I'm trusting and hoping the rapture serves as the great tipping point for the ME war and the global economic crash.

Time for the bride to ready herself for the groom.

:preach

[cris]

15.356 Trillion and climbing........



:shocked:shocked:shocked:shocked:shocked:shocked:s hocked:shocked:shocked:shocked:shocked:shocked:sho cked:shocked:shocked:

I just looked at the interest on our debt, .....I looked at it for 2 min's....... We paid 4,000,000 (4 million dollars in 2 minutes) That's 2,000,000 a minute in interest we pay.

In one hour, that's 120,000,000 (120 million) in interest we are paying.
In 24 hours, that's 2,880,000,000(2.880 billion) in interest.
In 7 days, that's (20.16 Billion) in interest a week!
In 1 month, 31 days that (86.4 Billion) in interest a week!

We are adding almost 100 Billion to the debt just in interest each month, not including we still have more outgo than income with the economic issues. I really don't think anyone has an answer to our Debt issues. We will keep printing Money, and devaluating the Dollar. I don't know how this story will end, all I know this is a incredible circumstance and issue we are involved in.

[TonyTheTiger]

You really think it'll take that long? I'm thinking it could get to 20+ trillion within a year or two. Bush added 4 trillion (give or take) during his 8 year term, leaving us with 9.849 trillion when he left office. Our current one has increased it by over 5 trillion in only 3 short years. You really think it will take him 5 years to get it to 20+ trillion?
(Here's the old article I got my information from) http://www.cbsnews.com/8301-500803_162-4486228-500803.html
I think we will all be surprised just how quickly that number can rise and get to 20+ trillion.

I thought about those numbers again after that post. At our current pace, we will hit $20 trillion by 2014, and should see $25 trillion by January of 2017 assuming Obama gets back in.

[cris]

I believe your right on Mr. Tiger! Spend, Spend, Spend............To be continued



I thought about those numbers again after that post. At our current pace, we will hit $20 trillion by 2014, and should see $25 trillion by January of 2017 assuming Obama gets back in.

[Patti311]

My brain can't think that high!! :doh :shocked

[cris]

3/23/2012............... Nations debt is now 15.574. This was a very hot issue a few months back, we had a expert team put in place to resolve our nations debt crisis, well I haven't heard anything on this topic in months. Shhhhh, maybe if no-one talks about it, it will go away. Or perhaps, we shouldn't worry about it until next year and the elections are over. When you click on the link, you will see the debt is >, and Gov't revenue's are <.




That 14 Trillion, is getting close to 15 Trillion with the interest payments adding up quickly

http://www.usdebtclock.org/

[Godslove]

I don't know why the debt is such a big deal.

Japan has well over twice the debt we have and they are borrowing at 1%.

Great Britian (in the past) had almost 3 times our debt and they recovered.

I don't think US will recover but I don't think our debt will have anything to do with it.

[cris]

I don't know why the debt is such a big deal.

Japan has well over twice the debt we have and they are borrowing at 1%.

Great Britian (in the past) had almost 3 times our debt and they recovered.

I don't think US will recover but I don't think our debt will have anything to do with it.

I don't know your comment about the British pound to be true, irregardless, it wasn't the world currency as for the most part the U.S. Dollar is. Why is the debt such a big deal? Have you gone to the grocery store lately, or the gas pump? When I go I either buy less items, or pay more money, which is caused by dollar devaluation, which means the U.S. dollar is worth less. If China decides to sell our treasury's or no longer buy our debt, where does the money come from to pay for Social Security, and all the other Gov't entitlements and other expenses to keep our Government functioning? Guess what, we can't pay the bills! Have you heard of the term "Bank Holiday"? Banks close for day/days, and when they reopen the money in your account is worth less, even a lot less than it was. Did you realize that our gas prices are much, much less than other countries and the reason for that is it is based on the U.S. dollar, so the U.S can somewhat manipulate the prices, if not we would be paying $7, $8, a gallon like other countries are. If the dollar is removed as the world currency, our gas prices will increase dramatically. Many of us already pay $1000 a month for gas, what will doubling the gas price and paying $2000 do? Almost every economic factor is based on oil. Goods would increase, and probably dramatically. You could be correct, this may not have anything to do with the Rapture, or our time left on this earth. However, this could be a piece of prophesy that could lead to a war or wars. This is a very important topic, it was a must solve Crisis just 2 months ago. This is why the debt is a big deal.