Another milestone in the exponential rise in US debt. It was only last September that $15 Trillion was reached. US GDP is just over $15 Trillion per annum. Here are the projected numbers
$16,OOO,OOO,OOO,OOOBAMA! | ZeroHedge$17 trillion on June 10, 2013;
$18 trillion on March 23, 2014;
$19 trillion on January 3, 2015; and
$20 trillion on October 16, 2015
What more is there to say?
Boring. The US can eternally print it's way out of it's problems and will always benefit from exceptionalism. Move along. Nothing to see here.
The debt really took off in the early 80s when Reagan came to power.Originally Posted by Cassandra Syndrome
Slowed down slightly under Clinton.
Took off again under idiot Bush Jr.
What more is there to say?
Don't elect Republicans.
They are on their way to becoming a 3rd world economy...
Yes the worlds largest economy burying itself under a pile of debt is boring. There will be a tipping point in this unsustainable cycle, the magic money tree is not going to last.
Phenomenal level of debt.
This $16 trillion is distinct from other categories of debt such as American student indebtedness, personal levels of indebtedness, mortgage debt, corporate debt...................
Really? The incumbent Democrat has just managed to nearly double it and will more that do so if he is left in office.
Indeed, don't forget poxy Nixon, he took the dollar off the Gold Standard in 1971. Everything went nuts since then. What more is to say is that you forgot Obama. When he became President the debt was at just over $10 trillion. Now its $16 trillion and he's a Democrat.
What securities can the Federal Reserve eternally buy to keep printing?
I don't profess to understand the complexities of the financial world, but the graphics on this page do surely make you stop and wonder...
Derivatives Bank Exposure
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