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#1
Old 11-22-2011, 09:31 PM
whitewatch
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Default U.S. debt passes $15 trillion milestone

... and it just keeps getting worse

By Nina Golgowski

Last updated at 10:57 AM on 17th November 2011

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National debt for the United States raced through the $15 trillion mark Wednesday afternoon without any pause or reflection from the snowballing digits, in contrast to critics of the White House.

To Republicans, the missing acknowledgement by the US Debt Clock of its financial feat appeared to mirror President Barack Obama and congress' own attention to the deficit, as the deadline on the 'Super Committee,' tasked to find $1.2 trillion in savings, edges nearer.

Venting on Twitter himself, Republican Candidate Jon Huntsman called the number 'unacceptable,' writing, 'This is why voters have lost trust in Washington. We need new leadership and real change now.'
15 plus: Come Thursday morning the US Debt Clock was already working on its next trillion after passing a financial milestone of $15 trillion Wednesday afternoon

15 plus: Come Thursday morning the US Debt Clock was already working on its next trillion after passing a financial milestone of $15 trillion Wednesday afternoon

Echoing the cry for new 'leadership,' Representative Paul Ryan who is the Chairman of the House Budget Committee admonished the figure, writing, '15 trillion in national debt marks an infamous day in U.S. history. You deserve leaders willing to tackle this problem.'

But in the capitol, both congressional Republicans and Democrats were at a statement in their yearlong assault on the federal deficit.


More...

* Newt Gingrich 'received $1.8m' from Freddie Mac in consultancy fees before its taxpayer bailout
* U.S. Debt Clock
* World Debt Clock

Their mission among the selected 12-member 'Super Committee,' or formally named Joint Select Committee on Deficit Reduction, is working to chop down the ballooning figure over 10 years, though their exact plan is due November 23rd.

In the case of failure, automatic spending cuts, totaling the desired $1.2 trillion amount, will go into effect starting in 2013.
Rep. Jeb Hensarling, R-Texas, left, and Sen. Patty Murray, D-Wash., right, co-chairs of the Joint Select Committee on Deficit Reduction, sit together as the supercommittee meets on Capitol Hill in Washington, Tuesday, Nov. 1, 2011.

Stalemate: Rep. Jeb Hensarling, R-Texas, left, and Sen. Patty Murray, D-Wash., right, co-chairs of the 'Super Committee' are at task to trim the federal deficit by at least $1.2 trillion over the next ten years

Disagreements on taxes and the future of enormously expensive government benefit programs - Presidential Candidate Rick Perry blames as 'Obama's socialist policies,' he wrote on Twitter Wednesday - have nearly deadlocked the group of evenly split Democrats and Republicans, who are inching on their proposal.

The building deficit has garnished every U.S. citizen in nearly $48,000 in shared debt and just over $133,000 for every tax payer.

The U.S. is estimated to spent $1.3 trillion more than it will take in this year alone.

In comparison to other developed nations, the U.S. has a public debt to GDP ratio of 85 per cent, in comparison to Germany's nearly 75 per cent and Canada's 81 per cent.

Japan, holding the heavy-weight title, is at 194 per cent.


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#2
Old 11-22-2011, 09:34 PM
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Usa #1 usa usa usa!!!!!!!
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#3
Old 11-22-2011, 09:35 PM
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#4
Old 11-22-2011, 09:40 PM
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That's a lot of money.
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#5
Old 11-23-2011, 09:34 AM
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Its funny that Americans are calling for new leaders when the average Americans debt is 4x that of their annual income. Almost every American is bad with money.
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#6
Old 11-23-2011, 09:44 AM
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Quote:
Originally Posted by AKATheMack View Post
Its funny that Americans are calling for new leaders when the average Americans debt is 4x that of their annual income. Almost every American is bad with money.

I was reading about the savings rates of some Asian countries.

Not even my most frugal friends could save like they do.
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#7
Old 11-23-2011, 09:47 AM
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Looks like the Commies had it right afterall.
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#8
Old 11-23-2011, 09:59 AM
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I can spare a fiver if you want America.
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#9
Old 11-23-2011, 10:00 AM
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Quote:
Originally Posted by jreckoning View Post
I was reading about the savings rates of some Asian countries.

Not even my most frugal friends could save like they do.
Americans dont have the willpower. We see other people driving nice cars and living in nice houses and to join the ranks all thats needed is to make a deal with the devil. I'd say the current American way of living is unfixable without a total collapse first.
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Old 11-23-2011, 10:03 AM
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lol thx - thuggery ATG. A toast to Bradley going to sleep. - WARQUEZ thanks for the donation ese - hectari thanks for 1 trillion points donation - QuebecSTAR2 thanks for the 3 trillions points donation boss - QuebecSTAR2 
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Bone Marrow Donation - Childhood Depression - Depression - Environment - Eye Injury Prevention - Glaucoma - Kidney Cancer - Kidney Disease - Kidney Transplantation - Leukemia - Lyme Disease - Mental Retardation - Missing Children - Organ Donation - T - thuggery Bone Marrow Donation - Childhood Depression - Depression - Environment - Eye Injury Prevention - Glaucoma - Kidney Cancer - Kidney Disease - Kidney Transplantation - Leukemia - Lyme Disease - Mental Retardation - Missing Children - Organ Donation - T - thuggery Anti-Tobacco - Colon Cancer - Colorectal Cancer - thuggery AIDS/HIV - DARE - DUI Awareness - Epidermolysis Bullosa - Heart Disease - Lymphoma - MADD - Substance Abuse - thuggery AIDS/HIV - DARE - DUI Awareness - Epidermolysis Bullosa - Heart Disease - Lymphoma - MADD - Substance Abuse - thuggery 
Bone Marrow Donation - Childhood Depression - Depression - Environment - Eye Injury Prevention - Glaucoma - Kidney Cancer - Kidney Disease - Kidney Transplantation - Leukemia - Lyme Disease - Mental Retardation - Missing Children - Organ Donation - T - thuggery Bone Marrow Donation - Childhood Depression - Depression - Environment - Eye Injury Prevention - Glaucoma - Kidney Cancer - Kidney Disease - Kidney Transplantation - Leukemia - Lyme Disease - Mental Retardation - Missing Children - Organ Donation - T - thuggery Anti-Tobacco - Colon Cancer - Colorectal Cancer - thuggery AIDS/HIV - DARE - DUI Awareness - Epidermolysis Bullosa - Heart Disease - Lymphoma - MADD - Substance Abuse - thuggery AIDS/HIV - DARE - DUI Awareness - Epidermolysis Bullosa - Heart Disease - Lymphoma - MADD - Substance Abuse - thuggery 
Bone Marrow Donation - Childhood Depression - Depression - Environment - Eye Injury Prevention - Glaucoma - Kidney Cancer - Kidney Disease - Kidney Transplantation - Leukemia - Lyme Disease - Mental Retardation - Missing Children - Organ Donation - T - thuggery Bone Marrow Donation - Childhood Depression - Depression - Environment - Eye Injury Prevention - Glaucoma - Kidney Cancer - Kidney Disease - Kidney Transplantation - Leukemia - Lyme Disease - Mental Retardation - Missing Children - Organ Donation - T - thuggery Adoptee - Bone Cancer - Child Exploitation and Abuse - Hope and Support - Peace - Retinoblastoma - Right to Life - Student Sexual Assault - thuggery AIDS/HIV - DARE - DUI Awareness - Epidermolysis Bullosa - Heart Disease - Lymphoma - MADD - Substance Abuse - thuggery AIDS/HIV - DARE - DUI Awareness - Epidermolysis Bullosa - Heart Disease - Lymphoma - MADD - Substance Abuse - thuggery 
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okay we owe $15 Trillion

what now?
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