Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

An Obama milestone has been reached !!!

The U.S. has hit the $18 Trillion debt trench.

Oh happy day !!!

The National Debt has gone up 70% with Obama in power.

Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

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.

The Debt Clock Ticker Tocker

a reply to: xuenchen

Your link isn't working.

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.

So? This tells me that Americans charged 32 billions dollars on their credit cards on Black Friday.

Black Friday is the day that American businesses are supposed to see black, as opposed to red, on their bottom lines, not Americans as individuals.

a reply to: windword

The link is fixed.

And they're not talking about personal public debt.

They are referring to U.S. Treasury debt not held internally by government agencies.

After awhile I figured out all of this money is fake. It's a lot less stressful when you realize and accept that it's imaginary.

I don't know that it's really Obama's fault - seems like the inevitable course this country will take regardless of which major party is in power.


I mean no disrespect - I'm genuinely curious; Are you really this one-sided? I see a ton of posts from you that are really very direct. Inevitably someone counters your claims, and you back-peddle in an attempt to keep anything from sticking to you. I'm just genuinely curious if this is all sincere or an altered persona of who you really are?

a reply to: TinkerHaus


This topic is in the US Political Madness forum, not the philosophy and metaphysics forum.

Microsoft has about 8.2 billion outstanding shares valued at about $48 each so in that sense you could also say that Microsoft is in debt 400 billion dollars.

originally posted by: xuenchen
a reply to: TinkerHaus

This topic is in the US Political Madness forum, not the philosophy and metaphysics forum.

Exactly!

If reverse-cycling were an Olympic sport you'd be on a Wheaties box!

a reply to: xuenchen

And they're not talking about personal public debt.

They are referring to U.S. Treasury debt not held internally by government agencies.

It includes individual, personal debts in the formula.

What is the Debt Held by the Public?

The Debt Held by the Public is all federal debt held by individuals, corporations, state or local governments, Federal Reserve Banks, foreign governments, and other entities outside the United States Government less Federal Financing Bank securities.www.treasurydirect.gov...

The article says that the jump occurred over the Black Friday weekend. That tells me that most of the 32 billion was private, individual, personal holiday spending debt.

At this point, it's just numbers and besides, they're all in it together. Congress has not put up a fight to stop anything he's done......and won't. Everyone on The Hill is making too much money and as long as their bank accounts are going up, screw the little guy.

This might as well be 95 bajillion dollars.

Seriously.

This is a number that doesn't mean anything and never actually will mean anything.

originally posted by: AgentShillington
This might as well be 95 bajillion dollars.

Seriously.

This is a number that doesn't mean anything and never actually will mean anything.

Until the countries we owe to decide to come collect........

Might change your tune , if and when that happens

originally posted by: ManBehindTheMask

originally posted by: AgentShillington
This might as well be 95 bajillion dollars.

Seriously.

This is a number that doesn't mean anything and never actually will mean anything.

Until the countries we owe to decide to come collect........

Might change your tune , if and when that happens

Nope. It wouldn't. Because... what are they going to do?

Seriously. Ask yourself that question.

What are they going to do?

Fight us? Are they going to come after the biggest kid on the block with the most devastating weapons ever devised in the history of the world over what amounts to a trade disagreement?

No. We will default on our obligations and then we will begin anew.

Why? Because we have the real property to back it up.

originally posted by: TheBlackTiger
Microsoft has about 8.2 billion outstanding shares valued at about $48 each so in that sense you could also say that Microsoft is in debt 400 billion dollars.

Corporation stock is not debt.

They are not obligated to buy it back.

Corporate bond issues are debt.

a reply to: windword

You are completely misunderstanding what U.S. Treasury Securities are.

originally posted by: AgentShillington
This might as well be 95 bajillion dollars.

Seriously.

This is a number that doesn't mean anything and never actually will mean anything.

The problems will start when the demand for U.S. Treasury securities goes sour.

Could happen any time now.

originally posted by: ManBehindTheMask


Until the countries we owe to decide to come collect........

So who would that be?

Let's see....

According to Forbes, about 2/3rds of US Debt is owed to.....the USA! Yep - 65.6% of US debt is owed to "domestic" lenders.

Of the overseas owned debt, China has 7/2%, and Japan 7.0% as the 2 largest owners.

OTOH social Security owns 16%, other Fed Govt entities own 13% and the Federal Reserve owns 12%!

a reply to: windword

federal debt held by individuals

That means they are the recipients of the interest and principal, not in debt.

So, most people know that most of the debt accumulated under Obama were just payments for programs authorized by previous Presidents (both Democrat and Republican), right?

Everyone except Republicans seems to know this.

a reply to: xuenchen

thats exactly right

and lets not forget that what they CAN collect, are our resources......

Shillington said above that we had land......

You think that they wont try and come for that? I dunno, I would HOPE not, but its not off the table .....

We have oil reserves, shale, natural gas, and lots and lots of land, just like any collateral you have as a private citizen, if you have any equity in anything and default, what do you think the banks come for? what do you think they seize?

Think of the US as a private citizen, what are her assets.....and what are the banks of the "world" going to come for when she defaults.....

We dont get to say "Welp sorry were bankrupt" lol the US doesnt get that luxury

a reply to: Aloysius the Gaul

You are correct, Sir.

Most of the debt is borrowed from Social Security and in the form of bonds.

The largest foreign lender is, I believe, actually the European Union. China is a distant third.

While the over trillion dollars owed to China is a large concern, it's not like they can suddenly call the debt in whenever they like. To assume that national debt works like household debt is very deceptive. China and other debtors can't just call up and say "pay up".