Skip to comments.Total US Debt Soars To 101.5% Of GDP
Posted on 05/01/2012 2:40:25 PM PDT by SatinDoll
There is nothing quite like a $70 billion debt auction settlement at the last day of a month to bring total US debt to a record $15.692 trillion, which happens to be just $600 billion shy of the $16.394 trillion debt ceiling. (and no, contrary to simple economic textbook lesson, this does not mean that the private sector just got another $70 billion in debt capacity courtesy of taxpayers, as explained here). And now that we know what Q1 GDP was at the end of Q1, or namely $15.462 trillion, it is simply math to divine that today alone total US/debt to GDP rose by 50 bps to a mindboggling 101.5%.
(Excerpt) Read more at zerohedge.com ...
We’re so far down The Rabbit Hole, that I don’t think we’ll ever recover this Nation.
But did you know that Obama killed Osama? Please don’t peak behind the curtain, there is nothing to see there.
Republican and Democrat....just gotta love’em!
The Obama plan — spend like there’s no tomorrow and then force a huge tax increase on pretty much everyone (but especially the rich) to pay for it. This is how we get to Communism in the US. Your income above a “fair share” will basically be confiscated in taxes to pay for debt and high spending. A massive national debt is all part of the plan.
I had to look 2x; 0bummer doesn’t have his usual filthy feet on the OO furniture, so he’s hard-to-recognize.
Anybody with knowledge about local Greek politics leading up to their financial crisis of today? I’m curious to know if their left, prior to, but certain of, their impending economic cataclysm made moves to worsen their situation? You know, sort of attempts to make things as bad as possible to ensure their collapse? I presume with the expectation that they win politically while they kill Grecian capitalism...
He knows how to do it, but he will not cut the deficit.
To do so involves eliminating whole government departments, such as the Education Dept., the Energy Dept., the Agriculture Dept., etc. If it isn’t mentioned in the U.S.Constitution, it shouldn’t exist as a standing department with a cabinet secreatary.
BHO2 will not do the necessary steps above; he will, instead, raise taxes. This will certainly destroy the U.S.A.
Lets get together November 7th or later to talk about it.
When the debt bomb bursts, when once prosperous Americans dumpster dive for a meal, when so many demand the government “do something,” . . . adios to the pitiful remains of our republic.
He could sing,
“I shot Bin Laden, but I didn’t shoot his deputy”, who of course, is Zwahiri.
Nov.7th will be too late.
Mitt Romney is a self-avowed Progressive - a national socialist. He damn near ruined the economy of the State of Massachusetts, which is saying a lot.
Socialism is not supported by the rank-and-file of the Republican Party, and no, he is not less evil that BHO2 as both men believe government is God. A socialist is a socialist is a socialist, period. It only looks acceptable until the government runs out of other people’s money.
Oh, wait...that’s happening right now!
You may be right. I hope not. When I read old newspapers from FDR’s time about the ministry of this and the ministry of that, it seems to me that we have recovered before. I hope and pray we will again. In the meantime, I will work for a majority in the House and Senate.
Whoops-that reply was intended for another thread.
I don't care if Romney is a communist, driving Obama and Michelle out of Washington must be done before this race and class warfare mesh together.
Thank you Zero Hedge, a voice in the wilderness, for highlighting the astronomical debt and other financial shenanigans that are destroying this country. All you hear is crickets from the corrupt MSM.
“A massive national debt is all part of the plan.”
There’s nothing opinionated about your post. It’s a simple statement of truth and the Usurper’s true agenda. Good post.
Speaking of debt inherited by Obama, here is the debt inherited by Senator Obama and the Democrat majority Congress that replaced the GOP majority Congress in Jan. 2007.
The choice in November, like it or not, will be between electing a new president and further empowering a dictator. That’s the reality. I’ll take my chances with Romney anyday.
Socialism’s Plunder Largely Responsible For 101.5% Debt to GDP Ratio.
DEFUND socialist collectives, foreign AND domestic.
DEPOPULATE socialists from the body politic.
Socialism = plunder & death.
live - free - republic
The list, Ping
Let me know if you would like to be on or off the ping list
Given the current figures and the current rate of borrowing ($4B-$5.2B per day), we should hit the debt limit somewhere between 4 and 8 weeks before the election. This might get entertaining...
“...default, declare bankruptcy...”
Can we actually do that, or is the US “too big to (be allowed to) fail”?
We’re in so deep now, and 94.3% of Americans have no idea of how bad it is. They just get spoon-fed the LSM crap on TV every night about the “recovery” and “bad oil companies” etc etc etc. Their 0bummer-induced rose-colored glasses, are about to turn brown, when TSHTF.
We have Obama to thank for this...
That was the point in my post, we are screwed no matter who wins...
They are both liberal socialist hacks and it's an insult to conservatives that the GOP supported such a liberal hack for the GOP candidate for POTUS, although Romney doesn't stand a chance against the better multifaced liar anyway.
All these photos are staged. Even with that Obama still looks like an empty suit. Everyone’s seen that look on Clinton’s face before. It’s the “Homer Simpson pretend to be listening while thinking about something else” face.
Obama’s mastered it though.