Nation's debt hits $13 trillion

what can be said?

Well, the public likes even numbers. Whether it is a car’s odometer, sports records, or even fallen heros on the battlefield, it seems to make a big news story when a line of 9’s becomes 0’s.

When did it happen?

The department’s website on Wednesday showed that the outstanding public debt hit $13.051 trillion as of Tuesday, leaping nearly $60 billion since Friday, the previous day for which figures were released. The department always posts figures a day behind and skipped Monday because it was a federal holiday. A down-to-the-penny tally of the debt will be released by the department Wednesday afternoon.

Did you catch that last part? That has to be either the biggest laugh or the biggest lie ever told. Maybe even a little bit of both…DOWN TO THE PENNY?!?!?!

Are you kidding me? The Federal Government really thinks it can get us to believe that they know ‘down to the penny’ the debt? Yeah, right. But the most important bit of data is mentioned here:

At $13 trillion, that works out to an obligation of more than $42,000 for every U.S. resident.

In another article on this story:

President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output, a step toward what Bill Gross called a “debt super cycle.”

Please click on the above graph and study how the debt grows and its percntage against the GDP (which is the more impotant statistic).


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