The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months

[Origanalist]

Submitted by Tyler Durden on 09/16/2014

Submitted by Michael Snyder via The Economic Collapse blog,

The idea that the Obama administration has the budget deficit under control is a complete and total lie. According to the U.S. Treasury, the federal government has officially run a deficit of 589 billion dollars for the first 11 months of fiscal year 2014. But this number is just for public consumption and it relies on accounting tricks which massively understate how much debt is actually being accumulated. If you want to know what the real budget deficit is, all you have to do is go to a U.S. Treasury website which calculates the U.S. national debt to the penny. On September 30th, 2013 the U.S. national debt was sitting at $16,738,183,526,697.32. As I write this, the U.S. national debt is sitting at $17,742,108,970,073.37. That means that the U.S. national debt has actually grown by more than a trillion dollars in less than 12 months. We continue to wildly run up debt as if there is no tomorrow, and by doing so we are destroying the future of this nation.

The chart that I have posted below shows the exponential growth of the U.S. national debt over the past several decades. Anyone that would characterize this as "under control" is lying to you...



continued...http://www.zerohedge.com/news/2014-0...last-12-months

[Madison320]

I've been watching this closely for a long time. This is why I ignore the deficit. The important number is the total debt. The only thing I might change is that I've been watching the total debt, but I think maybe the debt held by the public is more important. My guess is that the intra-govt debt is a wash. However even the public debt went up by 840 billion so far for FY 2014 which is much higher than the 580 deficit.

Also the lowering of the deficit from really high to just high is from raising tax revenues not lowering the budget. My guess is that most of the rise in tax revenues is from high income earners benefitting from massive amounts of stimulus (10 trillion in borrowing, 4 trillion in QE, 2 trillion in trade deficits and 0% rates). So my bet is that the debt is going to start rising faster. Of course if interest rates rise that'll add even more to the deficit.

[thoughtomator]

One trillion more that won't be paid back either. At this point the nominal amount doesn't matter, only the timeline for people realizing that long-term T-bills are destined to default - the 30s definitely, and the 10s come more into question with every passing day.

[oyarde]

Go ahead and figure in the unfunded liabilities .

[FindLiberty]

Go ahead and figure in the unfunded liabilities .

Whenever I see the words "debt" and "pay it back" on the same page, my head seems to itch.

Sure, another few hundred trillion here and there... So what?

But no worries mate 'cuz in the future, faster "wind powered" computers will easily be able
to keep up wid it by creatin' more of the amazing paperless fiat porridge.

RELATED: Did you hear the one about the modern invisible "bread line" that runs on plastic?

[Ronin Truth]

When they're in the hole for over 200+ trillions, what's 1 more or less?

[Spikender]

Beautiful article. I've talked to people that think the debt has gone down or the economy is in a recovery...

If there is a "recovery" it is purely an illusion or a drop in the bucket compared to the teetering wreck of an economy we are witnessing. Some people ask how this could have happened, but just look at your neighbors and you'll see why this happens... most people have no problem spending all of this money and honestly believe that Government spends money on what it says it does.

Economics makes me tired.

[Ronin Truth]

Beautiful article. I've talked to people that think the debt has gone down or the economy is in a recovery...

If there is a "recovery" it is purely an illusion or a drop in the bucket compared to the teetering wreck of an economy we are witnessing. Some people ask how this could have happened, but just look at your neighbors and you'll see why this happens... most people have no problem spending all of this money and honestly believe that Government spends money on what it says it does.

Economics makes me tired.

That's the plan and the agenda. It's supposed to, so you will hopefully just throw up your hands, and then subsequently ignore it.

[Spikender]

That's the plan and the agenda. It's supposed to, so you will hopefully just throw up your hands, and then subsequently ignore it.

Yep. Just like politics in general.

Luckily I just chug down another energy drink and come right back because it hurts more to ignore it than to lay down my arms and comply.

I just don't see how others can so quickly say they don't care when this is something so soul-crushingly evil that ignoring it would be foolhardy. But I guess not all humans are built the same and some of us have a hire tolerance for getting reamed in the ass by the State as long as they get their Internet, sex, and paycheck every month.

[Ronin Truth]

Yep. Just like politics in general.

Luckily I just chug down another energy drink and come right back because it hurts more to ignore it than to lay down my arms and comply.

I just don't see how others can so quickly say they don't care when this is something so soul-crushingly evil that ignoring it would be foolhardy. But I guess not all humans are built the same and some of us have a hire tolerance for getting reamed in the ass by the State as long as they get their Internet, sex, and paycheck every month.

As the Romans rediscovered, "Bread and Circuses" works.

[Spikender]

As the Romans rediscovered, "Bread and Circuses" works.

Yeah well screw those backwards Romans cuz we got our Bread and Circuses in HIGH DEF MOTHAFUCKA!!!

[Origanalist]

That's the plan and the agenda. It's supposed to, so you will hopefully just throw up your hands, and then subsequently ignore it.

That's right on the money, and it works. I keep hearing the same thing, "there's nothing I can do about it so why worry"?