U.S. Debt Jumped $400 Billion in First Hours After Obama Signed Debt-Limit Bill

so, the treasury still has to sell the bonds to come up with this money???

well, guess that answers my question.....who in the world did they get to lend them the money!!!
but raises another one, what in the world are they gonna do if no one wants to buy their bonds???
and just how much will the interest be on these bonds to con someone into buying them....

www.chicagotribune.com...

the debate that was intended to "save" the american taxpayer a little money, well, it's ended up costing us a nice sum of money!! way to go, Congress!!

Originally posted by jefwane
reply to post by Connector

 

Yeah, you are correct Connector, my math says it jumped 238Billion and some change.

Aug 1st DTS

Aug 2nd DTS

You're going to be looking at table III C.

Thanks for making sense of what happened. They were subtracting the Total Statutory Debt Limit figures to get the $400 billion dollar number as opposed to the Total Public Debt Subject to Limit. Which figure is correct in the grand scheme of it all? I guess this why I never liked accounting class in college.

Either way, the jump is quite significant when you know the collapse is getting closer by the day.

reply to post by dawnstar


Thanks for the article. Quite the interesting scam. Increase the yields to spur investors and the taxpayers foot the bill for the interest. And the pile just grows larger by the day.

The Washington Times picked this up and explains it more thoroughly.

U.S. debt shot up $239 billion on Tuesday — the largest one-day bump in history — as the government flexed the new borrowing room it earned in this week’s debt-limit increase deal.

The debt subject to the statutory limit shot way past the old cap of $14.294 trillion to hit $14.532 trillion on Tuesday, according to the latest the Treasury Department figures, which are released on the next business day.

That increase puts the government already remarkably close to the new debt limit of $14.694, which means one day’s new borrowing ate up 60 percent of the $400 billion in space Congress granted the president this week.

www.washingtontimes.com...

reply to post by jibeho


$238 billion or $400 billion; does the difference matter when we are borrowing just because we can? S & P obviously doesn't think this makes good sense.

The real question should be what should the US be spending on in the first place:

Defense
Border security
Free trade between the states.

There is nothing in the Constitution that requires the US to pay for much else; the states are supposed to be responsible to their people for the rest.

Thye US will never regain its pre-eminence until it radically changes its priorities in light of its Constitutional authority and obligations.

Squiggly light bulbs?
Gay marriage?
Creationism v. evolution?
Afordable home morgages?

None of these are the business of the US government, yet we obsess and throw money at problems that we have no business intervening in, in the first place!

The US is going to regress into chaos until we regain our focus and address the issues upon which the Nation
was founded: a proletariat throwing off the tyranny of 'absentee' parasitic rulers.

People need to do for themselves for a change, instead of depending upon "the government" to meet the basic necessities of life.

jw

reply to post by jdub297


yes, well, the first thing I would do would be to end the "bringing democracy to the world" policies and bring the troops home from the four corners of the earth....to protect our homeland!! I'd also stop funding all this aid to other countries problems....
that would lay off alot of servicemen and women, wouldn't it???

and oops!!! there are no empty seats at the job table for them, well, guess we can scratch that tactic!!!

it's easy to say that the people should be depending on themselves instead of the gov't, but well.....
the traditional way for the people to do this has been employment....
for that we need decent paying jobs,......

guess we need to create some jobs for these returning servicemen and women....
let's invest a few billion dollars and create the jobs!!!
ooops, most of the money went to the administration of the program, the remaining cash was doled out to businesses who promised to create some jobs, which some did create a few jobs....with wages that didn't even cover the basic necessities for many, they ended up in our food stamp lines...some of the companies took the money we gave them and shipped the jobs to china or india....grand return on our investment, 5 cents on the dollar!!!
well...that one didn't work....

maybe some of these servicemen and women might be interested in getting some higher education, let's create some funding for them to go to college!! and loans too!! okay, how much should we give them for the funding, let's go ask the dept of ed......once year we ask them once a year, the amount is higher than last year, the tuition goes up, the cost of that degress goes up, the amount of debt the grads are in at graduation is more!! these people go out into the workforce and want higher and higher wages, just so they can pay off their debt and still have a decent lifestyle.....which most aren't getting...and well, these are loans you cannot go bankrupt on!! guess that one didn't work either.....

maybe some of them would like to start their own businesses.....we can help them there.....
money is loaned to them, another hotel is built in an area where there's already 20, and this one has an advantage the others don't , the backing of the US gov't....some well, the newest hotel starts drawing customers from the other hotels who were only operating on a 60% occupancy, and well, opps!! that didn't work, we just put ten hotels out of business!!!

okay, let's go back to something that we know will work!!! let's have a war!!!!

seems to me that the business community shares the blame in this mess also!! you go look at the rate the administrative salaries have risen in these colleges, corps, ect.... it's probably the only segment of the economy outside of the cost of living that has gone up!!! quality hasn't....wages for the rest of us hasn't, innovation hasn't, gee, japan has air conditioned clothing, when are we gonna get that??
we don't create, we don't manufacture, we don't take care of our own, we just scam others for wealth!!