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

[Coach is Back!]

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.

It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the "benefit" of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.

And now we wait for the US to become Spain, and add the estimated "contribution" from hookers and blow to GDP, once again pushing the total debt/GDP ratio below the psychological 100% level.


http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

[240 is Back]

great post, definitely keeps the focus on the outrageous spending. 

hopefully the new repub congress will cut obama's spending.  Repubs haven't turned down a dem spending bill yet, but i'm optiimistic.

[Coach is Back!]

great post, definitely keeps the focus on the outrageous spending. 

hopefully the new repub congress will cut obama's spending.  Repubs haven't turned down a dem spending bill yet, but i'm optiimistic.

Have you gotten any Obama on your chin yet?

[Dos Equis]

Rome is burning.

[andreisdaman]

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.

It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the "benefit" of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.

And now we wait for the US to become Spain, and add the estimated "contribution" from hookers and blow to GDP, once again pushing the total debt/GDP ratio below the psychological 100% level.


http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

Excellent post, Coach....I love your line about including income from hookers and blow to GDP...LOL... ....I can't dispute your numbers..they appear to be rock solid....but I still think the number while Obama has been in office might be a little high....but no time to quibble.....the debt is scary ...we have to do something about it..its a big ticking timebomb!!!! ...just the interest alone is eating us alive

[Dos Equis]

National Debt Passes 18 Trillion, Nets Ignore
By Mike Ciandella | December 2, 2014

The U.S. National Debt reached a staggering $18 trillion on Nov. 28, 2014, but none of the three broadcast news networks covered the milestone.

That debt has increased by more than $7 trillion during Barack Obama’s presidency, Forbes said. According to The Blaze, “In the last fiscal year, the national debt increased by just over $500 billion, and that number is expected to rise again in the coming years.”

Since the debt passed $18 trillion, the evening and morning news shows on ABC, CBS and NBC have completely ignored it. However, NBC “Today” did find time on Dec. 2, for the anchors to pretend to be riding in a car in front of a green screen, while ABC’s “Good Morning America” dedicated two segments to a food reality show called “The Taste.”

This wasn’t the first time the network news shows ignored stories that might reflect poorly on the White House. When it comes to Obama, bad poll numbers and embarrassing spelling flubs often didn’t make news.

http://newsbusters.org/blogs/mike-ciandella/2014/12/02/national-debt-passes-18-trillion-nets-ignore#sthash.FjNb2GAS.IHGnB5On.dpuf

[andreisdaman]

National Debt Passes 18 Trillion, Nets Ignore
By Mike Ciandella | December 2, 2014

The U.S. National Debt reached a staggering $18 trillion on Nov. 28, 2014, but none of the three broadcast news networks covered the milestone.

That debt has increased by more than $7 trillion during Barack Obama’s presidency, Forbes said. According to The Blaze, “In the last fiscal year, the national debt increased by just over $500 billion, and that number is expected to rise again in the coming years.”

Since the debt passed $18 trillion, the evening and morning news shows on ABC, CBS and NBC have completely ignored it. However, NBC “Today” did find time on Dec. 2, for the anchors to pretend to be riding in a car in front of a green screen, while ABC’s “Good Morning America” dedicated two segments to a food reality show called “The Taste.”

This wasn’t the first time the network news shows ignored stories that might reflect poorly on the White House. When it comes to Obama, bad poll numbers and embarrassing spelling flubs often didn’t make news.

http://newsbusters.org/blogs/mike-ciandella/2014/12/02/national-debt-passes-18-trillion-nets-ignore#sthash.FjNb2GAS.IHGnB5On.dpuf

I don't think the networks are protecting Obama......the deficit is simply not something that most american care about...and ABC, CBS, and NBC don't want to hear the sounds of remotes clicking away from their programs while they discuss such a mundane topic

[Soul Crusher]

I don't think the networks are protecting Obama......the deficit is simply not something that most american care about...and ABC, CBS, and NBC don't want to hear the sounds of remotes clicking away from their programs while they discuss such a mundane topic

Stop trolling for cock via pm will you? 

[Dos Equis]

I don't think the networks are protecting Obama......the deficit is simply not something that most american care about...and ABC, CBS, and NBC don't want to hear the sounds of remotes clicking away from their programs while they discuss such a mundane topic

They MSM is always giving the president cover.  It's ironic, because he doesn't even like the media. 

[James28]

Excellent post, Coach....I love your line about including income from hookers and blow to GDP...LOL... ....I can't dispute your numbers..they appear to be rock solid....but I still think the number while Obama has been in office might be a little high....but no time to quibble.....the debt is scary ...we have to do something about it..its a big ticking timebomb!!!! ...just the interest alone is eating us alive

How is it eating you alive?

[tonymctones]

Stop trolling for cock via pm will you? 

hahhaah

[Kazan]

I don't think the networks are protecting Obama......the deficit is simply not something that most american care about...and ABC, CBS, and NBC don't want to hear the sounds of remotes clicking away from their programs while they discuss such a mundane topic

Yeah it is of no importance 

[Soul Crusher]

hahhaah

You laugh - you should see the pm's I get from this dog in heat