US Debt Clock Just Ticked Past $13 Trillion

The U.S. debt clock just ticked past $13 trillion, which means that our national debt to gdp ratio is now over 90%.

  1. David Jones

    It is a debt that, not only in sheer dollar amounts but in that percentage of GDP as well, would have been unthinkable when I was born in 1970. What I find scary is that we’re getting to that point where correcting the deficit won’t just be trimming spending here and there–this is going to take bold action.

    And I’m having a hard time spotting the politician with the guts to lead us in the tough decisions.

  2. Keith Rickert Jr

    I thought I heard Bill Bennett say today that the Natty Debt will TRIPLE under Obama’s presidency. Seems to me that the Republicans should exploit this fact to get the youth vote. Kids these days, if they’re not under the spell of the liberal peace & love rhetoric, love the free stuff. What they don’t seem to realize is that this unspeakably huge bill is going to come due right smack in the middle of their earning years? The Republicans should start painting that picture for them.

  3. Mark Wilson

    Well, at least we have a President who promises not to increase the deficit.

  4. Neal Pierson

    If you don’t want to needlessly spend away the future of our children, then you don’t care about the children.

  5. Adam Freedman
    C

    And as a bipartisan commission just told Congress, 90% debt is the point where growth really starts to slow down. But wait, Congress has an answer to slow growth: another stimulus bill! $300 billion (which, of course, is a mere rounding error these days). Slow growth, high structural unemployment. Oh well, I always sort of wanted to live in Europe.

  6. Busy System Admin
    Adam Freedman:: And as a bipartisan commission just told Congress, 90% debt is the point where growth really starts to slow down. · May. 26 at 12:36pm

    After that point, even if the economy booms again, all the increased tax revenues will be eaten up by interest.

    The fable of the pied piper was never more relevant. If you don’t remember the ending, the pied piper leads away the town’s children who were never seen again…

  7. Mark Wilson

    Do you mean to tell me you guys value growth and prosperity over “equality” and “social justice”?

  8. Aaron Miller

    I couldn’t help but notice yesterday that Obama’s gift of 1,200 soldiers to the border states comes with a measly $500 million. ;)

  9. Pips

    I know a fellow who has, what I believe to be, the typical left wing mindset. He told me that the budget deficit could readily be eliminated if only the rich and the corporations, especially the bankers, would pay their fair share of taxes. I am concerned that too many people have fallen victim to this type of class envy, which has become a central theme of the majority party in Washington DC.

    

  10. Diane Ellis
    C

    The Washington Times has done some arithmetic for us since most of us, with our measly conventional calculators, can only input numbers up to 999,999,999. 

    At $13 trillion, that figure has risen by $2.4 trillion in about 500 days since President Obama took office, or an average of $4.9 billion a day. That’s almost three times the daily average of $1.7 billion under the previous administration, and led Republicans on Wednesday to place blame squarely at the feet of Mr. Obama and his fellow Democrats.

    But not to worry!

    [A]n official speaking on the condition of anonymity said the administration is “committed to restoring fiscal responsibility.”

    Oh good.  For a moment, I was convinced Mr. Obama was committed to accelerating fiscal insanity.

  11. John Boyer
    Diane Ellis: But not to worry!

    [A]n official speaking on the condition of anonymity said the administration is “committed to restoring fiscal responsibility.”

    Oh good. For a moment, I was convinced Mr. Obama was committed to accelerating fiscal insanity. · Jun 3 at 11:06am

    And by “fiscal responsibility” the administration means taking advantage of the two for one coupons for DominosPizza which Barack got in the mail last week.

  12. Michael Labeit

    I wonder what our Chinese creditors think off falling Treasury prices/ rising Treasury yields?

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