US Closes 2010 With $14,025,215,218,708 And 52 Cents In Debt, A $154 Billion Increase Overnight

US Closes 2010 With $14,025,215,218,708 And 52 Cents In Debt, A $154 Billion Increase Overnight

www.zerohedge.com...

When we predicted a few weeks ago that the US would end 2010 with $13.8 trillion in debt we miscalculated the settlement dates on all the last round of bond auctions . As a result, we are happy to announce that as of December 31, 2010, the US now has $14,025,215,218,708 and 52 cents in debt (incidentally this is an increase of $154 billion in debt on the US balance sheet overnight). As a reminder the debt ceiling is 14,294,000,000,000. Which means at a run rate of $125 billion in net monthly issuance, the US may not even get to the end of March at the current burn rate. Which also means Congress better start the discussion on raising the debt ceiling as soon as February. Which means someone is about to [win/lose] some serious cash on the Feb 28 debt ceiling hike InTrade contracts.

What recovery?

Oh hell, that 52 cents is going to be the end of all of us.

We screwed.

I thought it was over 50 trillion when you included veterans entitlements and other programs.

The 4th bankruptcy is coming. Hold onto your hats, debtors! Free range slavery is about to get a whole lot more fun.

Sh** hits the fan again and again, but mainstream media spinning propaganda lies of recovery.

Originally posted by BigTimeCheater
Oh hell, that 52 cents is going to be the end of all of us.

We screwed.

It would appear so now doesnt it!

Finally, they admitted or could talk about it

www.cbsnews.com...

Ladies and gentlemen,

Look at how the U.S. Department of the Treasury Bureau of the Public Debt manipulated the figures in front of our eyes.

From $14.02 Trillion (Dec 31 2010) to $13.99 Trillion (Jan 03 2011) within 3 days







treasurydirect.gov...
www.intrade.com...