U.S. National Debt Increasing

It is always a good thing for United States taxpayers to be reminded of their U.S. national debt. They and their descendents will be held accountable for it.

U.S. National Debt from 5/30/2012 to 8/9/2012

On July 31st, 2012 U.S. total national debt was $15.93 TRILLION… an unimaginable sum.  Since then it has subsided a bit, but will soon start rising again. It always does.

It is on track to reach the debt ceiling limit defined by the U.S. Congress around November 6th… United States election day 2012. The debt ceiling is around $16.39 trillion.

That secret, of course, will be kept from the voting public until after the election results are in. Nobody within the governing class, including so-called fiscal conservative Republicans, want that information widely known before the votes are tallied.

The U.S. national media is far to inept to perform their watchdog function and report it.

Unfortunately, truth is truth. Facts are facts.

U.S. sovereign debt or as the U.S. Treasury quaintly calls it, “debt held by the public”, which is the bad kind where governments are judged by national and international financial markets, first crossed $11 trillion on May 31st, 2012.

It is only going to get worse.

How long, do you you think, will it take before financial markets finally catch on? How long, do you think, will it take American taxpayers to catch on and then force the federal government to do something about it??

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About azleader

Learning to see life more clearly... one image at a time!

Posted on Aug 9, 2012, in 2012 Elections, culture, debt ceiling, economics, Life, news, Opinion, Politics, Thoughts. Bookmark the permalink. 4 Comments.

  1. “How long, do you think, will it take American taxpayers to catch on and then force the federal government to do something about it??!

    Sadly, a very long time. Too few people are engaged enough to be concerned.

    • Winston Churchill famously said it best:
      “You can always count on Americans to do the right thing – after they’ve tried everything else.”

  2. The issue with the debt ceiling is that no matter who wins in November there will be a fight and both sides will engage in a game of brinksmanship. When the US’s credit rating was down graded our inept political system was cited as one of the reasons. The incompetence of our elected leaders will, once again, be on full display when we reach the debt limit.

    Ultimately, the debt ceiling is somewhat useless. Has it ever stopped any administration from over spending? Or has it always been raised? It seems to serve no real purpose other than to trigger a debate. This can be good if it is a real debate about spending and priorities. But it is a detriment when these discussions turn into political fights that use important issues as tools to advance a party’s political position.

    Thanks for a great post.

    • The importance of the debt ceiling limit is that it forces politicians and the voting pubic to see it and deal with it. That makes it incredibly valuable.

      Although politicians always raise it, being forced to periodically face our enormous debt growth has undoubtedly kept the national debt lower than what it otherwise would be.

      That alone, makes having a debt ceiling limit worth it.

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