United States fast approaching its current $8.965 trillion credit limit

[FrankRep]

Congress agrees to raise U.S. credit limit

WASHINGTON (Reuters) - With the U.S. government fast approaching its current $8.965 trillion credit limit, the Senate on Thursday gave final congressional approval of an $850 billion increase in U.S. borrowing authority.
...

http://www.reuters.com/article/newsOne/idUSN2742101920070928

[ForLibertyFight]

That's a lot of money we owe :mad:

[DahuiHeeNalu]

Im already broke as a citizen but wow!!!

[JosephTheLibertarian]

I wish I can spend more money than I have.... does the US government run on credit cards, or what? lol counterfeit money

[Givemelibertyor.....]

We should just ask the Fed to print up some more money, like they did for the big banks..........

[JosephTheLibertarian]

Why can't I just go to the Fed when I need some money? We can all go... what would that do to the economy? lol I think the paper has its value due to the fact that only a tiny minority has a lot of it

[Givemelibertyor.....]

Why can't I just go to the Fed when I need some money? We can all go... what would that do to the economy? lol

Who cares?

"I like money"
http://www.isteve.com/Idiocracy_Money.jpg

[JosephTheLibertarian]

Who cares?

"I like money"
http://www.isteve.com/Idiocracy_Money.jpg

It wasn't an analytical question *sigh*

[Givemelibertyor.....]

joke

[JosephTheLibertarian]

joke

[slantedview]

What credit limit is this referring to? Do we have a legislated limit?

[pengieh]

Don't worry, its only around $30,000 for every man, woman, and child.

[R_Harris]

Um . . . . . . if you go to the link below, you will see that the real, actual national debt is just over 8.972 trillion. In fact, if you do the history range right below the figures, you will see that we exceeded $9 TRILLION earlier this month.

This is old news.

http://www.treasurydirect.gov/NP/BPDLogin?application=np

[RP4ME]

Don't worry, its only around $30,000 for every man, woman, and child.

No its actually highr than that I saw liek $175K per person!!!!

[fsk]

No its actually highr than that I saw liek $175K per person!!!!


When you count the current national debt, there are several ways to calculate.

If you calculate "current cash debt", you have $10T divided by 300M people, which is about $30k per person.

If you include unfunded promises for Social Security, Medicare, and other stuff, then you start to get the really high debt values.

[1000-points-of-fright]

does the US government run on credit cards, or what?

Yes, and they keep transferring the balance to new cards with the low introductory interest fees.