As the debt bubble grows:Â US Gross National Debt to Spike by 800 Billion Dollars in October.
It is rather clear that we are spending beyond our means like a young college graduate with their first paycheck. Consumer debt continues to spin wildly out of control and the government continues to spend money that it does not have. This works until it doesn’t. Of course the usual debt ceiling slash political charade […]
What the heck? U.S. Public Debt up $518 billion in November alone: U.S. debt ceiling made of toilet paper.
You might remember that back in March, we hit our debt ceiling limit. The amount registering on the U.S. Treasury Department website was stuck at roughly $18.15 trillion. Of course given our addiction to spending and debt, we simply charged all new spending off the books. We as a country have a deeply rooted addiction […]
US households already went off their fiscal cliff and breached their debt ceiling – US quickly approaching another debt ceiling limit aligning with the fiscal cliff.
Few people realize that the debt ceiling is aligning right on track with the fiscal cliff. Total public outstanding debt is now at $16.369 trillion and is only $63 billion away from breaching the limit. Not a coincidence that the fiscal cliff is also on the horizon. In essence, we are addicted to debt. However […]
How to spend $9 trillion in 10 years. How in the financial world did we end up with over $14 trillion in Federal government debt?
If we do a slow rewind back to 2001 U.S. debt stood at $5.8 trillion.  This today would seem like a bargain. So how in the world did we end up with the current $14.3 trillion figure in a matter of ten years? People like to ignore history but if you don’t know where your […]