U.S. debt jumps a record $328 billion — tops $17 trillion for first time

Whoo Hoo!

Hell Yeah Murica!

Not only did we shatter the previous one day record by 100 billion dollars, but we also got over that damned $17T hump we've been working on for a few months now.

Congratulations everyone, this was truly a team effort, but I knew if we all just buckled down really put our backs into it, we would pull it off.

U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.
The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.

I know we would all like to take a breather and bask in our govt's wastefulness, but we can't rest now. We have more debt to accumulate.
Don't worry though, it's even easier now that we don't have to worry about pesky debt ceilings. Those were just really inconvenient for racking up ludicrous sums of debt.

Usually Congress sets a borrowing limit, or debt ceiling, that caps the total amount the government can be in the red.
But under the terms of this week’s deal, Congress set a deadline instead of a dollar cap. That means debt can rise as much as Mr. Obama and Congress want it to, until the Feb. 7 deadline.

Source

YAY us!

reply to post by watchitburn


A big LOL S&F to you . I know this is a time for celebration what with that new # but we should remain calm and maybe have a quiet drink .I need a new pair of shoes but am thinking I could go all in and go to a thrift store to get them ,but what the hay ..off to Wall Mart yee haw ..

The debt clock says different. Still at 16.9.

Debt clock

Remember,,,,this is not DEBT,,strickly speaking,, it is AMERICA, telling the rest of the world , what it's ASSets is wirth.

buster2010
The debt clock says different. Still at 16.9.

Debt clock

It is but I don't think the debt clock is that accurate as far as having a large increase. If you add what the source article says was added to the current debt clock you do indeed get over the $17T hump....great day for the US....go FAIL!

reply to post by watchitburn


And it was tagged to YER watch, BuUUrn!
Contrary 't Larry I think we "Got us DUN".

Ever notice why W made it back to Crawford
regularly after 9/11?
Because gihod doesn't rhyme with anything else
better'n YEEE-HAAAAA.
I had to bust one out of the can for your find,

F&S. Now, if we can get the ME crackling into
a good brushfire war by proxy: we should be
able to hit 35 Tril by Christm@$$. Good Work,
Congress! My amount of faith in you hasn't
changed since 1958!!

reply to post by derfreebie


when they took out Solomon Bros. with #3,,
it was evident too sea,, too sea, of too Switzerland,,,but
the Swiss said there private, and well,, lotta secrets in long box's.
some made of wood,, some of steal.

reply to post by watchitburn

LIAR!!!

Obama said, "Just because you raise the debt ceiling doesn't mean you raise the debt!"

SHAME ON YOU!

SHAME
SHAME
SHAME

/sarc

so, within 24 hours of raising the debt ceiling our debt has increased?

but...but...Mr. President...I thought raising the debt ceiling doesn't raise our debt

Crakeur
so, within 24 hours of raising the debt ceiling our debt has increased?

but...but...Mr. President...I thought raising the debt ceiling doesn't raise our debt

BWAHAHAHAHA, beat ya to it, boss!

Is this like Texas Hold 'Em where the US government goes "all in" with a pair of eights ?

reply to post by CranialSponge


It's better than that it's like having a pair of deuces in the hole and going all in ...lol

2nd line darn it ...why ,why ?

reply to post by the2ofusr1


or aces and eigts 8

reply to post by beezzer


only because I was backing my post up with links.


slacker

Crakeur
reply to post by beezzer

 

only because I was backing my post up with links.


slacker

LL

I used quotation marks, can I get half credit?

Maybe someone more intimate with detached-from-reality economics can help me out on this one.

So we just went over $17 Trillion in debt, yet the administration is pounding the talking point the deficit has been cut in half. Oh, and raising the debt ceiling does not increase debt. How does all of that reconcile?

I have read a lot of pieces on this such as:

www.treasurydirect.gov...
money.howstuffworks.com...
usgovinfo.about.com...
www.americanprogress.org...

After all of that, it still makes little sense. 'The deficit is meaningless' or 'Debt to GDP ratio is lessening' or 'It only matters for our credit rating'. There seems to be little agreement much less a discussion on any one facet of this mess. These are experts?

In the end, I do not give a s***. I know my tax dollars are being wasted on things I have no say over. I disagree that my government has to borrow money from commercial entities when they can run it themselves at 0% interest. GDP is a joke when just about every damn thing manufactured comes from elsewhere. The "experts" can mumbo-jumbo the economic-speak all they want. It means nothing to the unemployed/under-employed.

This thread makes me laugh with disbelieve.

wow!

American debt hits $17 trillion for the first time.

The reason it makes me laugh is because every single day, actually ever single hour of ever day American debt climbs and as it climbs and continues to smash the records. Its been going up and up and every time it goes up the record is broken to my knowledge there is no point in US history that debt has actually fallen, America is a supper power built on debt.

Today it broke $17tn, next year it will top $18tn and by the time good old Barry passes on the baton of the presidency then we will probably all be aghast as it smash's through the $20tn mark for the first time.

It is always going up, the record is all ways being broke, it will continue like this until the American economy collapses under the wight of its own debt. And they all know, democrat and republican, that this is only a matter of time all they can do is hope they can keep things ticking over, keep the debt climbing until their four years of responsibility is over and they can pass the buck over to another guy.

They know the whole house of cards is going to collapse, they just don't want it to happen on their watch.

reply to post by OtherSideOfTheCoin


You are absolutely correct sir.

And that is what makes it so absolutely hilarious.

reply to post by watchitburn


Honestly its getting to the point where it's insulting to our intelligence.

Its like they think we are too stupid to notice that every is about to fall apart.

OtherSideOfTheCoin
This thread makes me laugh with disbelieve.

wow!

American debt hits $17 trillion for the first time.



Today it broke $17tn, next year it will top $18tn and by the time good old Barry passes on the baton of the presidency then we will probably all be aghast as it smash's through the $20tn mark for the first time.


Next Year..???!!! You mean NEXT MONTH.