Treasury Debt $19,197,076,000,000 (updated 3/29/16)

Opening balance 10/17/13  $16,747,361,000,000

Closing balance 10/17/13 $17,075,590,000,000

Difference $328,299,000,000

$328 billion in one day.

Key factor going into deadlines in January and February.  There is no statutory limit currently, just a deadline of time.  Till the deadlines the  USA CC is now unlimited.

https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=13101700.pdf



Look at us go!  USA USA USA

Obama is making Putin look like a civil right hero.

http://www.foxnews.com/politics/2013/10/27/obama-knew-nsa-spying-on-merkel-and-approved-it-report-says-944692234/

Oops. Somehow posted this in the wrong thread.

"Till the deadlines the USA CC is now unlimited."


Scary stuff when combined with buffoons who make statements like this ...

“The cupboard is bare. There’s no more cuts to make. It’s really important that people understand that,” - Nancy Pelosi

We can quit paying Nancy Pelosi until she earns it.

Seems we racked up $409 billion in additional debt in October. So much for the "government shutdown" curtailing any spending.

http://cnsnews.com/news/article/terence-p-jeffrey/federal-debt-jumped-409-billion-october-3567-household

https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=13120500.pdf

We're at $17,180,556,000,000.00 now. Less than two months ago we were "holding" at  $16,699,396,000,000.00.  Increase of $481 billion, nearly have a trillion in less than two months.  There is no intention of paying this back.  Can you imagine the public reaction if the government was actually seriously genuine about addressing the debt and the impact to every citizen and our country as a whole?  Unfortunately not addressing it and continuing to ignore it will only make the fall that much worse.  How bad?  I don't think we can imagine the scale of how bad.

Theoretically comparing black Friday behavior and translating it to a real calamity, there might be real reason DHS is buying military surplus in the billions to be included with the 2 billion bullet retainer on ammunition.

If only there were an annual bill in the mail to let each taxpayer know what that individual tab was. That might open some eyes about the responsibility in front of us.

Over a trillion in new debt since the fiscal year 2015 started in October. New debt to pay for maturing old debt. All the while a new record in collecting $341.6 billion in tax revenue.

Looky boys and girls we're now over $18 trillion. Ohh goody goody.

http://cnsnews.com/mrctv-blog/terence-p-jeffrey/ponzi-treasury-issues-1t-new-debt-8-weeks-pay-old-debt

On Black Friday, total outstanding US public debt tallied $18,005,549,328,561.45. If that won't get you in the Christmas spirit nothing will.

Who do we owe that debt to?

Endless war fervor or social programs. We can afford one, but not both.

Majority holders are the Federal Reserve (private banking elite) with $2.4 trillion, China followed by Japan. Need to research the accuracy of this.

Why not do what the govt did with GM?

The US defaulting would be the start of WWIII and or the end of our country. Conditions in the country wouldn't be much better, when a loaf of bread costs $10k. Might come to that if it does lots of people would probably die.

There would need to be an orderly way to do it. However trusting any of the calhouns who got us in this mess with the responsibility to get us out of it. No chance of success.

T minus $18.1 trillion and holding for 33 days now.

http://www.cnsnews.com/news/article/terence-p-jeffrey/21-days-treasury-says-debt-has-been-frozen-18112975000000

$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.

Now lets see what these ficscal conservatives in Congress do. They're going to remain tought and vigilant on spending and debt. Least that's what they tell us. They caved last time and the time before that, and before that....

Truth wrote:

Why not do what the govt did with GM?

But that would be breaking the law using your logic. Surely your not suggesting political flip flopping for political expedience. Fox news would be all over you for suggesting. Now if your wanting to spend a few more trillion in wars and death, then lets break out the Fox news cheerleaders.

Let me explain it for ya. The GM bankruptcy basically screwed the bondholders and others holding worthless paper. Put all liabilities in the old GM, have them pay a fraction of the bailout back, let them be immune to taxes for several years. I dgas about Fox news or any other outlet on the take. But fair is fair, and that bankruptcy was not. Why should Ford pay taxes? What is wrong with a business getting an actual loan and paying it back? Federal Reserve has nothing to do with the US govt.

Do you have an updated nation debt chart?

Why don't we start a new US, put all our debt in the old US. Only natural born and 10+ year resident citizens are allowed benefits. ALL govt employees are paid a salary based on US middle class income, they get SS when they retire. Flat rate tax. No toll roads. Manufacturing facilities set up in prisons, products go to companies buying from China currently.

Truth wrote:

Let me explain it for ya. The GM bankruptcy basically screwed the bondholders and others holding worthless paper. Put all liabilities in the old GM, have them pay a fraction of the bailout back,

This was mostly hedge funds and investment banks going in to rape and take positions in GM bonds looking for a 5:1 up to 20:1 payout in bankruptcy. The treasury was providing the DIP finanicing, and the judge rulled that the hedge fund vultures who swooped in to gain a windfall, were not the creditors first in line. The amount of cash flowing into GM right before bankruptcy wasn't grandma. What individual investor goes and buys bonds of any company? No one. The vast majority of bond buying is institutional buyers.

Quote :

let them be immune to taxes for several years. I dgas about Fox news or any other outlet on the take. But fair is fair, and that bankruptcy was not. Why should Ford pay taxes? What is wrong with a business getting an actual loan and paying it back?

People can talk about companies paying taxes all they want. Companies don't pay taxes, the employees and consumers do, always have always will. They just roll in the tax burden and cost into the delivery of their services and products. We the lowly citizen pay for it when we earn it, pay for it when we buy it, pay for it banked into whatever we buy. We're the one's that get screwed nine times till Sunday.

Quote :

Federal Reserve has nothing to do with the US govt.

Technically, least what the general public is told. Let's overlook the cozy relationship and structure of the Federal Reserve and the US Government. The Federal Reserve System's structure is composed of the providentially appointed Board of Governors or Federal Reserve Board (FRB), partially providentially appointed Federal Open Market Committee. The Federal Reserve owns more US debt than any other entity, is not audited or regulated like other financial institutions. It's situation is entirely unique and unlike any other private banking institution in the US

I mean how many US banks or financial institutions are providentially appointed? Zero.

Why does the Fed refuse to return requested foreign gold reserves? Why does it return portions of gold reserves that are melted down? None of the original stamping, serial numbers are intact. Only a private entity with very close ties to the government can get away with stuff like this. This is a time to be thankful for that military machine we have, keeps people from coming after us with all the shenanigans we pull.

Truth wrote:

Why don't we start a new US, put all our debt in the old US. Only natural born and 10+ year resident citizens are allowed benefits. ALL govt employees are paid a salary based on US middle class income, they get SS when they retire. Flat rate tax. No toll roads. Manufacturing facilities set up in prisons, products go to companies buying from China currently.

The bolded is already done.  PBS Frontline has a good episode on this if my memory is correct.  Paying those incarcerated like $2 a day.

Like the idea of a flat tax.

Defaulting on the debt makes the USD worthless.  Loaf of bread cost $10k.

What would be the recommendation about money?  Or what constitutes money?  This is an enormous battle as there are many elite, powerful, well connected people that will fight a destruction of the USD.

There is or are a reset coming.  Just it will be a calamity, we cant' figure out how to spend only what it is we take in.  Expecting these yahoos to come up with a plan orderly reset the entire shooting match, they're incapable.  The rest is coming, it will be chaos.  Depending on how bad and under what circumstances, a lot of people could die.  The American public truly underestimates how fragile our entire being is.  The entire thing is propped up on pixie sticks.

Good graphs.
Is there an updated one showing dept and what party is in power like post #2?

Can we speculate the reason the dept took off in the early 2000s was NAFTA taking hold?

That and trillions upon trillions for wars that we refuse to win.

True but with the loss of good paying manufacturing jobs we have lost a huge tax base that used to help pay for those things.

The US had 80% of the worlds manufacturing capability at one time. This was also our most prosperous time as a country. There's a reason they go hand in hand.

We're still working on giving it away, slowly incrementally. Before long we'll be left with pizza delivery, cutting hair, and lawn mowing as the pillars of the US economy.

At the end of 2010 the Bush tax cuts were expiring and the administration and congress didn't renew. IT was labeled "biggest tax hike in history". Well if it was the biggest tax hike, it must have been the biggest tax cut in history as well.

We go to fight all these wars and pay for none of it. DoD spending itself increased over 300%. The Iraq and Afghan wars had budget line items, the state department was funding tens of billions for private mercenaries, the intel community got unlimited billions. We increase spending by hundreds of billions, and we pay for none of it.

Back in WWII we sold war bonds to help pay for the war. Today, we fight endless wars and put it all on the credit card.

They refuse to win, or define what win is, because this allows them to continue the spend and make their war machine buddies extremely rich. War is profitable. Eisenhower warned us of this. Notice how the boogie man is constantly changing, new ones are created or renewed, there's never a lull.

Holding spending in check taxes need to increase by about 50% annually to pay for our current level of war machine.

Diesel Dan wrote:

Good graphs.
Is there an updated one showing dept and what party is in power like post #2?

Can we speculate the reason the dept took off in the early 2000s was NAFTA taking hold?

The reason it took off in the early 2000's is as was war(s).  The gloves came off, checkbooks were out.  Billions went everywhere.  PBS Frontline has some good episodes on this that give you a good view into the mindsets running the show.

Clinton got off the hook because the US invented an entire new industry:  Information Technology.  This was a huge boom, and created record tax revenues and prosperity.  Short lived, within 10 years the push was to move as a feverish pace to low cost countries.  It was easy because there was mostly people involved.  Not hard assets like manufacturing.

The DoD goes from $260'ish billion in 1999 to over $590 billion now.  Add in all the ancillary DHS didn't exist, that's a separate budget.  We are still building their $3 billion dollar campus, cost more than Cowboy's stadium. TSA didn't exist.  Everything security and military spend went to the moon.  Military contractors paid out of the Depart of State.  CIA contractors, NSA contractors.  It's a big shell game to conceal the real cost.

When you add it all up, all the different buckets and where they spread the cost.  We spend $1.2 to 1.6 trillion a year on security and defense.  We collect round $2.2 trillion give or take in federal tax revenue.

Ironic we used to have a "War Department" that fought defensive wars, or those only necessary.  Now we have the "Defense Department", that gets into any scuffle around the globe.

I've been trying for over a month to hire a replacement for one of my guys here at work that is moving on.

I'm running up against a wall of the professionally unemployed. IF I can get them to return a call, they just don't show for the interview. Finally got a decent guy interviewed, made an offer, he accepted, confirmed again, then emails me this at 6:15 morning he's declining. He was all good up until actually having to show up for work today.

This country is over, people would rather sit on their asses at home and live on the dole than work for a living. We are phucked. Game over.

So true! Most people don't want to work any more. This last job I have pays lousy, but I jump out of bed every morning because I finally found something that gives me satisfaction. Now the government wants me to stop working. I just don't get it.

I like how the chart above points directly at the Republicans as the cause of the debt. Talking about bias BS! Both parties are equally to blame.

The govt wants to make it easy for you to be comfortable not working so you will vote for the people promising to keep it comfortable. I work at a call center talking to idiots a good part of the time but I make good money and have great benefits and the turnover is crazy. I make above the median wage here in town and have among the best benefits and too many people are too lazy to show up to work consistently enough to keep their job. They would rather go work an "easier" job for half the pay and no benefits.