Tuesday, July 3, 2012

U.S. now just $145 billion away from crossing a national debt of $16 trillion

The old adage of spending like a drunken sailor has morphed into an even greater cliche where the U.S. is now spending their future generations inheritance.  Even as investment banks and analysts across the board lower this years GDP expectations, the Federal government is increasing their dedicit spending, and is less than $145 billion dollars from crossing the $16 trillion dollar rubicon.

*Note the second chart, where the debt has crossed over the annual GDP.  This hasn't occurred in America since World War II.

Charts courtesy of Zerohedge


Post a Comment