When the US reached a debt ceiling deal in the beginning of November, it was common knowledge that there would be a debt accrual “catch up” to make up for lost time when the US was operating under emergency measures to avoid breach of the debt ceiling. And sure enough, when the accurate total debt number was released on November 2, this was indeed the case, when we learned that the US had added some $339 billion in debt during the “emergency measures” period.
However, what is unclear is how in the remaining 4 weeks of November, the US managed to add another $335 billion in total debt, bringing the total increase for the month of November to a whopping $674 billion, and total US debt to a record $18.827 trillion.
Also, just to preempt the question, the chart below shows the change in US debt under president Barack Obama: starting at $10.6 trillion on January 21, 2009, total debt is now up just over 77% under Obama’s tenure, to $18.8 trilion. At the current pace of growth, it may double by the time Hillary is sworn in as America’s next president.
Delivered by The Daily Sheeple
Contributed by of Zero Hedge.
http://www.thedailysheeple.com/total-u-s-debt-soars-by-674-billion-just-in-november-alone_122015
“… bringing the total increase for the month of November to a whopping $674 billion, and total US debt to a record $18.827 trillion.”
Key words:
U.S. DEBT…
… NOT MINE!
“… by the time Hillary is sworn in as America’s next president.”
Of this I have absolutely no doubt (assuming things get that far).
“WE” ? ASSHOLE HAS A MOUSE IN HIS POCKET
Had a convo/info chat with some new co-workers. Long story short, me being an historian and math freak I used an Einstein quote. “The most powerful thing in the universe is compound interest.” I used that to press home how fractional reserve lending really works and how money is debt. Seriously, how can you be broke when you, 1. Print the money. 2. Charge 90% profit for every $100.00 dollars, but, they need a bailout? People still don’t understand that it’s about control, not wealth for these people that rule the world. I mean really, what are you going to do with 600 trillion? Buy Jupiter?
That being said, Einstein was a whore and a liar, and stole his famous equations from two other men who did all the work for him. And don’t get me started on his wife. Watch “Einsteins Wife” excellent documentary. Excellent women.