US public debt tops $12 trillion for first time ever
1 Comment so far
Leave a comment
November 18, 2009, 4:15 pm
Filed under: CBO, Congress, Credit Crisis, DEBT, debt clock, Dollar, dollar collapse, Economic Collapse, economic depression, Economy, Federal Reserve, George LeMieux, government control, government regulations, Great Depression, Greenback, health care, health care reform, Healthcare, House, hyperinflation, Income Tax, Inflation, medicare, national debt, Neolibs, obama care, obama deception, obama tax, obamacare, Senate, Stock Market, tax, Taxpayers, universal health care, US Economy, US Treasury, Wall Street
Filed under: CBO, Congress, Credit Crisis, DEBT, debt clock, Dollar, dollar collapse, Economic Collapse, economic depression, Economy, Federal Reserve, George LeMieux, government control, government regulations, Great Depression, Greenback, health care, health care reform, Healthcare, House, hyperinflation, Income Tax, Inflation, medicare, national debt, Neolibs, obama care, obama deception, obama tax, obamacare, Senate, Stock Market, tax, Taxpayers, universal health care, US Economy, US Treasury, Wall Street
US public debt tops $12 trillion for first time ever
AFP
November 18, 2009
The US public debt topped 12 trillion dollars for the first time in history, Treasury officials disclosed Tuesday, moving past a key barrier that raised hackles in Congress.
Treasury data showed Monday’s outstanding debt at 12.031 trillion dollars, up from 11.999 trillion on Friday.
The ballooning debt reflects the massive deficit spending by the government in an effort to revive an ailing economy over more than one year.
The public debt topped 10 trillion dollars in September 2008.
The debt is quickly approaching the statutory limit of 12.104 trillion dollars, meaning Congress would have to raise the ceiling to prevent a shutdown of government operations.
1 Comment so far
Leave a comment
noworldsystem.com 
There is a NYT article on the US debt today (see http://euandus3.wordpress.com/2009/11/23/12-trillion-in-debt-living-beyond-our-means/). It hasn’t been just after the financial crisis of 2008 that the US Government has had unbalanced annual budgets… And consider consumer “use” of credit cards? Is there something about our society–about ourselves–that we are missing because we are in it? (e.g. a fish doesn’t “see” its water). I don’t think we are digging deep enough.
Comment by euandus2 November 23, 2009 @ 4:39 pm