Debt Hit $13 Trillion!!! Spend Baby Spend!!!

[KissMy]

The National Debt just hit $13.1 Trillion today. It is up $101 Billion in just 23 days.

In other news Gold set another record at $1262.00 per ounce.

Government is doing an excellent job destroying our savings.

The National Debt just hit $13.2 Trillion yesterday. It is up $104 Billion in just 27 days.
I guess thats progress. It took 4 days longer this time to add $100 Billion to the debt.

 

[KissMy]

Moody’s Cuts Ireland’s Credit Rating

Ireland’s efforts to pull out of a deep economic slump suffered a setback Monday when a major credit agency downgraded the country’s bond rating, citing a weak banking system and rising debt.

Moody’s Investors Service downgraded Ireland one notch, to Aa2 from Aa1, although it remains comfortably above junk level. Moody’s also changed the outlook on the ratings to stable from negative.

“Today’s downgrade is primarily driven by the Irish government’s gradual but significant loss of financial strength, as reflected by its deteriorating debt affordability,” said Dietmar Hornung, a senior credit officer at Moody’s.

The agency also said that the downgrade had been driven by the increased burden in liability for banks after a series of recapitalization measures led by the state.

 

[KissMy]

Moody’s: Review Hungary's credit rating for possible downgrade

Moody’s Investors Service said it will review Hungary’s credit rating for possible downgrade, the first rating company to react to the collapse of negotiations with the International Monetary Fund and European Union.

The IMF and EU on July 17 suspended talks with the government without endorsing Prime Minister Viktor Orban’s plans to control the budget deficit. The creditors provided Hungary with a 20 billion-euro ($25.9 billion) rescue package in 2008, which has served to reassure investors.

“The focus of our review is to assess the ability and willingness of the Hungarian government to formulate a credible reform agenda,” Dietmar Hornung, a vice president at Moody’s, said in an interview. “A continued program with the IMF and the EU would represent a substantial policy anchor and give reassurance to the fiscal path.”

 

[KissMy]

The National Debt just hit $13.1 Trillion today. It is up $101 Billion in just 23 days.

In other news Gold set another record at $1262.00 per ounce.

Government is doing an excellent job destroying our savings.

The National Debt just hit $13.2 Trillion yesterday. It is up $104 Billion in just 27 days.
I guess thats progress. It took 4 days longer this time to add $100 Billion to the debt.

The National Debt just hit $13.3 Trillion yesterday. It is up $100 Billion in just 28 days. The workforce is still in decline

 

[Douger]

If you really want to create a "meltdown", stop all spending. Won't take long before we find out what "soup kitchens" are all about.

******* brainwashed fools.
Community Food Bank of Eastern Oklahoma

 

[KissMy]

U.S. Is Bankrupt and We Don't Even Know

Last month, the International Monetary Fund released its annual review of U.S. economic policy. Its summary contained these bland words about U.S. fiscal policy: “Directors welcomed the authorities’ commitment to fiscal stabilization, but noted that a larger than budgeted adjustment would be required to stabilize debt-to-GDP.”

But delve deeper, and you will find that the IMF has effectively pronounced the U.S. bankrupt. Section 6 of the July 2010 Selected Issues Paper says: “The U.S. fiscal gap associated with today’s federal fiscal policy is huge for plausible discount rates.” It adds that “closing the fiscal gap requires a permanent annual fiscal adjustment equal to about 14 percent of U.S. GDP.”

The fiscal gap is the value today (the present value) of the difference between projected spending (including servicing official debt) and projected revenue in all future years.

 

[loosecannon]

And the Fed is still increasing the monetary base.

That isn't what I hear

Whenever the broad money supply-adjusted for inflation-has turned negative year over year, the economy has gone into recession, or if it already was in a recession, the downturn intensified. It's happened four times before now, in modern reporting. You saw it in the terrible downturn of '73 to '75, the early '80s and again in the early '90s. In December of 2009, annual growth in real M3 turned negative. It's now at a record low in terms of decline, down more than 6% year over year. What that suggests is that in the immediate future you're going to see renewed downturn in economic activity.

Translation, the money supply is shrinking at a 6%/year rate

John Williams: A Hyper-Inflationary Great Depression Is Coming - International Business Times

 

[KissMy]

The National Debt just hit $13.2 Trillion yesterday. It is up $104 Billion in just 27 days.
I guess thats progress. It took 4 days longer this time to add $100 Billion to the debt.

The National Debt just hit $13.3 Trillion yesterday. It is up $100 Billion in just 28 days. The workforce is still in decline

The National Debt just hit $13.4 Trillion Today. It is up $100 Billion in just 23 days. The speed of debt increase is accelerating, Gold is rising & The workforce is still in decline.

In addition to the debt the government is backing $5 Trillion of Fannie/Freddie loans. There are also $110 Trillion worth of unfunded government mandates coming due. All this Shadow debt is going to swamp the dollar. Government Debt to GDP ratio is 94.47% & rising. Government spending to GDP ratio is now 43.84% & rising.

Unless God is Willing and the interest rates don't rise, the opportunities to turn this country around before the impending crash are quickly being passed by. Once interest rates explode, all opportunities are gone & the USA will roll off the cliff.

 

[loosecannon]

unless we are gifted with double digit inflation for more than a decade.

Remember the inflation that caused the recovery in Reagan's term?

 

[KissMy]

Fat chance of that.

The workforce is only 138,793,330 & falling.

The actual unemployed is 25,305,552 & rising.

That is an 18.23% unemployment rate & rising.

 

[Douger]

" I'm not worried about the deficit. It's big enough to take care of itself"
Another asshole with a cowboy hat.

 

[loosecannon]

Fat chance of that.

The workforce is only 138,793,330 & falling.

The actual unemployed is 25,305,552 & rising.

That is an 18.23% unemployment rate & rising.

I don' believe that inflation is caused by wage pressures.

"Inflation is ever and always a monetary phenomena" ~Milton Friedman

 

[KissMy]

The National Debt just hit $13.2 Trillion yesterday. It is up $104 Billion in just 27 days.
I guess thats progress. It took 4 days longer this time to add $100 Billion to the debt.

The National Debt just hit $13.3 Trillion yesterday. It is up $100 Billion in just 28 days. The workforce is still in decline

The National Debt just hit $13.4 Trillion Today. It is up $100 Billion in just 23 days. The speed of debt increase is accelerating, Gold is rising & The workforce is still in decline.

In addition to the debt the government is backing $5 Trillion of Fannie/Freddie loans. There are also $110 Trillion worth of unfunded government mandates coming due. All this Shadow debt is going to swamp the dollar. Government Debt to GDP ratio is 94.47% & rising. Government spending to GDP ratio is now 43.84% & rising.

Unless God is Willing and the interest rates don't rise, the opportunities to turn this country around before the impending crash are quickly being passed by. Once interest rates explode, all opportunities are gone & the USA will roll off the cliff.

The National Debt just hit $13.6 Trillion Today. It is up $200 Billion in just 47 days. The speed of debt increase is steady, Gold is rising & The workforce is still in decline. We have been under threat from the Federal Reserve that they will increase the money supply (print more paper money) by about a Trillion Dollars. This has caused commodity inflation. The Fed is going to wipe out a Trillion Dollars worth of debt with its printing press. People with money have been frantically spending & investing ahead of this dollar devaluation. It is having a short term effect on the economy.

 

[KissMy]

The National Debt just hit $13.3 Trillion yesterday. It is up $100 Billion in just 28 days. The workforce is still in decline

The National Debt just hit $13.4 Trillion Today. It is up $100 Billion in just 23 days. The speed of debt increase is accelerating, Gold is rising & The workforce is still in decline.

In addition to the debt the government is backing $5 Trillion of Fannie/Freddie loans. There are also $110 Trillion worth of unfunded government mandates coming due. All this Shadow debt is going to swamp the dollar. Government Debt to GDP ratio is 94.47% & rising. Government spending to GDP ratio is now 43.84% & rising.

Unless God is Willing and the interest rates don't rise, the opportunities to turn this country around before the impending crash are quickly being passed by. Once interest rates explode, all opportunities are gone & the USA will roll off the cliff.

The National Debt just hit $13.6 Trillion Today. It is up $200 Billion in just 47 days. The speed of debt increase is steady, Gold is rising & The workforce is still in decline. We have been under threat from the Federal Reserve that they will increase the money supply (print more paper money) by about a Trillion Dollars. This has caused commodity inflation. The Fed is going to wipe out a Trillion Dollars worth of debt with its printing press. People with money have been frantically spending & investing ahead of this dollar devaluation. It is having a short term effect on the economy.

The National Debt just hit $13.7 Trillion Today. It is up $100 Billion in just 22 days. The speed of debt increase is increasing, Oil, food & gold are rising & The workforce is flat-lined. The Federal Reserve increased the money supply (print more paper money) by about a Trillion Dollars. This has caused commodity inflation. The Fed is going to wipe out a Trillion Dollars worth of debt with its printing press. People with money have been frantically spending & investing ahead of this dollar devaluation. It is having a short term unsustainable effect on the economy.

 

[uscitizen]

Actual debt or projected?

 

[Jeremy]

 

[ekrem]

That's Chinese.

 

[Ava]

At the end of 2008 Bush (actually the Democrats as they controlled the purse strings) was showing a National Debt Verses GDP of 40.8%

At the end of 2009 BO (Democrats still holding the purse strings) was showing the National Debt verses GDP of 54.6%

Projected at the end of 2010, BO (Dems still holding the purse strings) will have a National Debt verses GDP of 67.1%

All spin aside, it does not take a Rocket Scientist to see the US is in for a Meltdown if the spending does not stop!!!!!!!!!!!!!



PS - 2011 is predicted at 70.1%


.

I'm expecting gridlock the next two years, which might stop the trainwreck...

 

[KissMy]

Actual debt or projected?

$13.7 Trillion is Actual Debt. That is $124K Per Tax Payer.

Projected Debt / Unfunded Liabilities is $111 Trillion. Up big since democrats took office. Each Tax Payer is Liable for over $1 million of Unfunded Liabilities. Are you ready to write out your check to the IRS?

 

[antagon]

the debt crested thirteen trillion in june.