US Federal Debt 130 Billion Dollars More than Last Month

The size of the U.S. national debt and the rate at which the debt is accumulating will lead the United States to ruin — no other outcome is mathematically possible. As of February 2012, according to monthly U.S. Treasury statements, our national debt is $15.48 trillion — about a $130 billion more from the month […]

Assisted Suicide of the American Superpower

Not long ago, in 2000, the United States ran a surplus. In 2009, it ran a deficit of $1.4 trillion—10 percent of the economy. The 2011 deficit is projected even higher. The national debt is surging toward 100 percent of GDP. The greatest creditor nation in history is now the world’s greatest debtor. In the […]

And we wonder why US credit was downgraded

The numbers leading S&P to downgrade U.S. Credit: • U.S. Tax revenue:___$2,170,000,000,000 • Federal budget:_____$3,820,000,000,000 • New debt:_________$1,650,000,000,000 • National debt:_____$14,271,000,000,000 • Recent budget cut:____$38,500,000,000 Let’s remove 8 zeros and pretend this is a household budget: • Annual family income:____________________$21,700 • Money the family spent:___________________$38,200 • New debt on the credit card:_______________$16,500 • Outstanding balance […]

A National Debt of $211 Trillion!

Economics professor Laurence J. Kotlikoff, who served as a senior economist on President Reagan’s Council of Economic Advisers, says the national debt, which the U.S. Treasury has accounted at about $14 trillion, is just the tip of the iceberg. “We have all these unofficial debts that are massive compared to the official debt,” Kotlikoff tells […]

Theory on why rating agencies are downgrading US debt

Some are of the opinion that the rating agencies are working with some of the predatory bankers and the hedge funds who are trading in these naked credit default swaps, and are targeting these economies and countries for failure, because they make more money on these insurances than they lose on their bond holdings. We […]

More financial woes in stock markets and federal debt

U.S. stocks plunged, European markets closed sharply down, and Asia exchanges lost ground across the board Monday, as investors responded to the unprecedented downgrade of U.S. debt on Friday, and concerns around the ongoing eurozone crisis. John Chambers, managing director of Standard & Poor’s, says of S&P’s decision to lower the nation’s credit rating for […]

Joint Chiefs of Staff Chairman Mullen says US Debt Biggest Threat to USA

Just because there’s a deal to raise the federal debt limit doesn’t mean the United States is any safer, Joint Chiefs of Staff Chairman Adm. Mike Mullen has said. “I haven’t changed my view that the continually increasing debt is the biggest threat we have to our national security,” Mullen said during a meeting with […]

US Federal Debt will now be $16.7 trillion

Speaker John Boehner (R.-Ohio) and Senate Minority Leader Mitch McConnell (R.-Ky.) have reportedly agreed to give President Barack Obama the authority to borrow as much as an additional $2.4 trillion—thus allowing Obama to get past the November 2012 election without having to seek another increase in the legal limit on the federal debt. The New […]

Americans own most of US government debt, not China

Many people — politicians and pundits alike — prattle on that China and, to a lesser extent Japan, own most of America’s $14.3 trillion in government debt. But it’s really Americans who hold most of America’s debt. Here’s a quick and fascinating breakdown by total amount held and percentage of total U.S. debt, according to […]

The 15 countries most buried under debt

Soaring sovereign debt has called into question the existence of a number of major European countries. But many other countries also have serious debt to GDP ratios: #15 Portugal Debt as percent of GDP: 93 #14 France Debt as percent of GDP: 83.5 #13 Sri Lanka Debt as percent of GDP: 86.7 #12 Sudan Debt […]