We Finally Broke $14,000,000,000,000!
 

US Debt Exceeds Fourteen Trillion! Yippy! :thumbsup

http://www.usdebtclock.org/

I just heard today that 100% of USA GDP is now 100% debt. LOL

congrats to the winners

yes and china is coming to take over our farms

congratulations!

3 years from now that number will be small and our tax rate to start trying to pay it down will be huge.

Hooray to Obama and the 150 Obamas in Congress and the thousands of Obamas in the state legislatures.

We are on the precipice.

:(

Don't worry about it. When hyperinflation kicks in $14t won't seem like much. A loaf of bread will be $1,000,000 and the garbage man will be getting paid $1b a month.

Seriously though, inflation is the most effective means of debt reduction. They just don't like to say it out loud. That's why you're not allowed to see minute notes from Fed meetings.

Many people argue about the makeup of the financial statements of a company. A company could be 50% equity and 50% debt. Different companies could have different ratios of assets and liabilities. Think about financial terms such as Return on Investment, Liquidity, Current Assets and more. Think about whether the company pays liabilities when they are due. Think about loans, bad debt expenses, uncollectible debts, accounts receivable and contractual agreements. Think about the interest that could be collected from debt. Think about what an ideal balance sheet, income statement and statement of retained earnings would look like. The numbers are important. Too much debt could be a disadvantage to people. People or companies or countries can consider spending less money than they earn to have little debt.

Hmmm... This debt was there before Obama took office so should we talk about Bush now?

Or just realize that as a society we all suck ass. Dems, Reps, Indies.... All of them out for their own shit. Their own money. Their own gain at the expense of others. It is exactly how the Romans fell.

Congrats to the americans... :helpme

Or just realize that our elected officials all suck ass. Dems, Reps, Indies.... All of them out for their own shit. Their own money. Their own gain at the expense of the average Joe.

Greed will eventually consume you:thumbsup

Who was the first president to leave office with a deficit.

congrats....

that tax break just put through added another 1 trillion to the deficit.

I'd agree, but not quite as extreme as you've put it.

Better stock up on ammo's my southern friends...

haha what about us?

This is what happens when rich people don't pay taxes and are allowed to ship all the manufacturing jobs overseas where the pay is 10% of what it would be in the U.S.A. In the meantime the poor are expected to carry the country. It's called Reaganomics. :mad:

It's to cold up here for our southern friends to invade and most of them know nothing about Canadia anyways... Let them invade Cuba and Mexico instead :upsidedow

by the way, the website is not accurate... it's run by some algo formulas...the debt will never decrease...

this is why you can't give black people checkbooks....

they just go crazy.....




.

Bush, oh yeah, it was 9.8 trillion when he left office or something like that, in two years it's gone up to 14 trillion, two fucking years?
Bush did his share, but the flood gates got opened two years ago, do we have better roads? Better healthcare? Better Border Security? Better security at the airports?

http://en.wikipedia.org/wiki/United_States_public_debt

Do you think if McCain had been elected we'd be any better off?

Anyone comparing Democrats VS Republicans is a complete idiot.

Congrats the the whiners .....

If every man, women, and child in the US came up with around $40,000, every penny of this debt would be paid off.

With population increases, plus interest, let's call it $45,000 each, over the next ten years.

That's $4,500 p/year, per person, for 10 years, and the entire $14 trillion is gone.

Of course, if the government cuts the military budget, cuts unnecessary corporate subsidies, pulls out of stupid wars, weens us away from oil, and just handles the money they already currently mismanage, more efficiently, that number would be much much less p/person, to the point where it might not even be noticeable.

Bingo. The prior administration not only handed over the largest deficit to an incoming president ever, but also left the economy in shambles. And yet the Republicans blame the deficit on Obama, not even beginning to think their party and their president caused it.

The two party system is no longer working. Both parties need to be working in the "best interests of the American people" Instead they are more interested in making the side look bad.

maybe you should read some actual facts about how much the poor pay in taxes versus how much the rich pay. the bottom 50% of earners in this country pay 3% of taxes collected. thats 50% of the population paying 3% total. you couldn't be more wrong if you actually tried.

And that bottom 50% consume most of the government services.

If they think they're in poverty now, wait and see what happens when the rich pack up and leave.

btw nice work....

We will never know

I was thinking more about the democrats being in power over the house and senate for 4 years

last congress went in office in Jan 07, they needed the TARP 9 months later


Having an unbalance of power over the last 10 years has fucked up the economy, hopefully things will start to change starting today

That number will go up and up and up...