Federal Government's Debt Jumps More Than $1T for 5th Straight Fiscal Year

CNS News
july 23, 2012

Federal Government's Debt Jumps More Than $1T for 5th Straight Fiscal Year
The National debt is over $15.9 Trillion as of this writing !!!

That means it will hit $16 Trillion soon.

There's no end in sight....except a higher continuous debt.

(CNSNews.com) - By the end of the third quarter of fiscal 2012, the new debt accumulated in this fiscal year by the federal government had already exceeded $1 trillion, making this fiscal year the fifth straight in which the federal government has increased its debt by more than a trillion dollars, according to official debt numbers published by the U.S. Treasury.

Prior to fiscal 2008, the federal government had never increased its debt by as much as $1 trillion in a single fiscal year. From fiscal 2008 onward, however, the federal government has increased its debt by at least $1 trillion each and every fiscal year....

Who is crazy here ??

Who will pay this off ?

the U.S. Debt Clock

None of them care about the debt. They just want to spend money they don't have to ruin America.

Heck, this is the free period and the calm before the storm. Interest rates are near 0's or even negative in effective terms for some. Ahhh..... Such quiet and peace when the number only grows as we add to it ourselves. If only Mr. 16 there would stay so quiet and passive.

When the interest rates start to return to life...and compounding arrives to that 16t, it'll grow so fast we're left thinking the computers were hacked or something. Then...as it grows, dollar value may well drop. One to the moon, the other to the abyss. Too bad it's our money crashing into the darkness.

I find this funny....

How do you make a contribution to reduce the debt?

There are two ways for you to make a contribution to reduce the debt:
•You can make a contribution online either by credit card, checking or savings account at Pay.gov
•You can write a check payable to the Bureau of the Public Debt, and in the memo section, notate that it's a Gift to reduce the Debt Held by the Public. Mail your check to:

Attn Dept G
Bureau of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188

Thanks for posting the debt clock, you've just made my day even more miserable.

Other numbers it shows are that we have $120 trillion in unfunded liabilities. Our debt is 4% higher than our total GDP.

Somebody stop this!

Wow!…….. So at what point in time will the US government stop and say it’s financially ruined? If it does not, at what point in time does the rest of the world say you’re done?

I believe you were done and dusted years ago & only further war and conflict keeps your machine running, for without war, death and destruction you have nothing to export.

It is in the interests of the US government to create weapons and war, under the disguise of “keeping the peace” of course…….. what good guys you tell everyone you are! *%#@^

Massive unemployment, high homeless statistics, people starving and you spend more money on war than anything else?

The world can see your disgusting and sickening behaviour for what it is…… and it makes me want to puke.

If the US crashes soon the world may have a chance to grow again…… keep on going the way you are – you will most certainly destroy it completely.

Mickierocksman

I'm sure it has nothing to do with the $21 trillion that the richest Americans are hiding overseas to skip out on the $28 billion in taxes they would owe. Or the defense spending bill that threatens to break the law by not cutting $500 billion from the DoD budget. Corning incorporated paid a net zero taxes between 2008 and 2011 but they're upset because they 'pay too much' in taxes.

reply to post by Mickierocksman

Wow!…….. So at what point in time will the US government stop and say it’s financially ruined? If it does not, at what point in time does the rest of the world say you’re done?

I agree with you completely on this. Our government is not facing it and has not faced that question, and I don't know if it will ever be addressed.

After that brilliant opening though, I think you may be a little misinformed.

Massive unemployment, high homeless statistics, people starving and you spend more money on war than anything else?

Medicare, Medicaid, and Social Security—along with other entitlements such as food stamps, unemployment, and housing assistance— make up 62 percent of all federal spending.

www.heritage.org...
From the same source, and using Office of Management and Budget figures, we find National Defense at 19%, Interest at 6%, Education gets 4%, Foreign Affairs gets 1%, and 8% for all other programs.

Hope it helps with your perspective.

We have people like this, that think it's great.





Debt is terrible, inflation and debt = slavery

Originally posted by charles1952
reply to post by Mickierocksman

 

Wow!…….. So at what point in time will the US government stop and say it’s financially ruined? If it does not, at what point in time does the rest of the world say you’re done?

I agree with you completely on this. Our government is not facing it and has not faced that question, and I don't know if it will ever be addressed.

After that brilliant opening though, I think you may be a little misinformed.

Massive unemployment, high homeless statistics, people starving and you spend more money on war than anything else?

Medicare, Medicaid, and Social Security—along with other entitlements such as food stamps, unemployment, and housing assistance— make up 62 percent of all federal spending.

www.heritage.org...
From the same source, and using Office of Management and Budget figures, we find National Defense at 19%, Interest at 6%, Education gets 4%, Foreign Affairs gets 1%, and 8% for all other programs.

Hope it helps with your perspective.

Thanks Charles, but I am left wondering again..... Does anyone actually know what the US government spends on black ops and other secret projects?

What about keeping everything secret - I would have thought that would be part of the 'defence / attack budgets'?

Can anyone with certainty say or believe to know how much the war machine actually costs in total?

Whatever it is, I'm still quite certain that more money is spent on war (and better or faster ways to kill) than on any other disbursement.

Mickierocksman

Darn that George Bush, Jr.! It's all his fault, you know!

/TOA

reply to post by Mickierocksman

Dear Mickierocksman,

Absolutely right to be wondering. Thanks for your answer.

My understanding is that the secret projects are identified by code names and while the total amount is reported to Congressional oversight committees, what it's being spent for is totally unknown. I'd like to think that the total amount of government spending is a fairly accurate figure. Perhaps pulling out things that aren't secret, like Medicare and Medicaid, and food stamps, would give us a realistic guess of what's left that could be hiding secret projects.

But with all the uncertainity in the process, how did you reach the conclusion:

Whatever it is, I'm still quite certain that more money is spent on war (and better or faster ways to kill) than on any other disbursement.

You may be right, but I, myself, don't happen to know what the evidence is for that position.

With respect,
Charles1952