Uncle Sam Couldn’t Wait


Tuesday December 2nd, 2014   •   Posted by Craig Eyermann at 6:37am PDT   •  

We had projected that it would be around December 9 when the total public debt outstanding of the U.S. government would reach $18 trillion.

We were wrong. It reached that number eight days early. ZeroHedge marks the infamous occasion:

Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.

debt to the penny Dec 2014

It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the “benefit” of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.

You can keep track of how much the national debt grows each day at the U.S. Treasury Department’s Debt to the Penny website.




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