US debt/GDP is now 99.5%

[Patriotic Sheepdog]

Saw this on zerohegde.com last night.

http://www.zerohedge.com/news/us-deb...tal-debt-now-o

This just ticks me off. They do it behind our backs (or try to), on a Friday night. I never saw this on any MSM, including FOX. This goes to point #2 in my post titled "Have We Reached The Tipping Point? We keep adding to the debt, because we HAVE to (Someone has to pay for the kids). The CONgress does not have the guts to stop the spending, especially at election time. This is now the norm, debt keeps increasing almost exponentially at this point. It will be getting worse, as the mathematics will catch up. That is when it will HTF, if something hasn't lit the fuse first.

Here is some of the article. Check out the whole article at the link above.

It seems like it was only yesterday that we celebrated 15,OOO,OOO,OOO,OOOBAMA day. Two weeks later, we are now well over 100 billion in debt over this historic landmark, or $15.11 trillion to be precise, following the predicted $55 billion increase in debt with the settlement of all auctions from last week. And aside from the mind-staggering rate of new debt increase why else is this number notable? Because as we learned 10 days ago, total Q3 GDP in current dollars is $15.18 trillion. In other words, US debt/GDP is now 99.5%, the highest it has been in the post WW2 period, and rapidly rising. What is worse is that the delta to 100% debt/GDP is only $70 billion: this is about half of the next two weekly gross issuances of 3,10,30s and 2,5,7s of about $160 billion over the next two weeks. In other words by the end of 2011, debt/GDP will finally be a triple digit number percentage. And the other notable thing is that the debt limit still is $15.194 trillion. It is ironic that the economic growth ceiling and the debt issuance ceiling are now one and the same: if the the debt target number does not rise neither will the US economy.

[Klayton]

Did you see that they want the IMF to bail out Europe now? Guess who will be footing 1/3 of that bail out? You got it, US taxpayers. When is enough enough people???

[Not_Yet_Prepped]

This is now the norm, debt keeps increasing almost exponentially at this point. It will be getting worse, as the mathematics will catch up.

It is growing exponentially with Compounding Interest, we can not even make enough of a payment to pay off the principle, so no matter how much we cut the spending until we start paying down the principle we are not really doing much.

In recent history even when the government told us the budget was balanced it was actually not true. The “Balanced” budget was only for that years spending to income ratio, it was assuming no payments to be made on previous years over budget loans.

So it was like say last year I racked up 10,000 dollars in credit card debt and bought a new house (with a loan) and a new car (with a loan). But this year if I don’t make payments on last years purchases I can spend exactly as much as I make and go no further in debt??? Well we all know better you are actually going further in debt because interest is adding to your debt even when you are not paying on them. But the government is not like you or I they dont consider loan payments or Intrest in their budget... HMMM... Must be nice!

CONgress and the government need to be held accountable for their policies and spending. But our Media is too focused on the personal lives of our government to tell us the truth about what our government is doing for us or to us and in our name overseas.

You know when Nancy P. increases her wealth over 40% in a 2 year period during which her Constituents wealth decreased by an average of 20% or more. The media should be asking some tough questions. And demanding answers and then checking into those answers. They can dig up dirt on a man's personal life from 20 years ago to roll him under the bus but they can't tell us what the CONgress did for us or to us yesterday.