The Phaserl


The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months

by Michael Snyder, The Economic Collapse Blog:

The idea that the Obama administration has the budget deficit under control is a complete and total lie.  According to the U.S. Treasury, the federal government has officially run a deficit of 589 billion dollars for the first 11 months of fiscal year 2014.  But this number is just for public consumption and it relies on accounting tricks which massively understate how much debt is actually being accumulated.  If you want to know what the real budget deficit is, all you have to do is go to a U.S. Treasury website which calculates the U.S. national debt to the penny.  On September 30th, 2013 the U.S. national debt was sitting at $16,738,183,526,697.32.  As I write this, the U.S. national debt is sitting at $17,742,108,970,073.37.  That means that the U.S. national debt has actually grown by more than a trillion dollars in less than 12 months.  We continue to wildly run up debt as if there is no tomorrow, and by doing so we are destroying the future of this nation.

The chart that I have posted below shows the exponential growth of the U.S. national debt over the past several decades.  Anyone that would characterize this as “under control” is lying to you…

National Debt 2014

This is the greatest government debt bubble in the history of the world, but very few people seem to have any desire to do anything about this anymore.  We are literally gorging on debt, and most Americans seem to think that it is just fine and dandy.

Perhaps that it is because we have never really experienced any serious consequences for going into so much debt yet.

But when it comes to running up debt, a day of reckoning always comes eventually.

Just ask Greece.

And the absolutely insane spending policies of this administration and this Congress are hastening the day when our day of reckoning will arrive.

Consider the following facts…

-The U.S. national debt has increased by more than 7 trillion dollars since Barack Obama has been in the White House.  By the time Obama’s second term is over, we will have accumulated about as much new debt under his leadership than we did under all of the other U.S. presidents in all of U.S. history combined.

-The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first established in 1913.

-If the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.

-Right now, the United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.

-In August, the average rate of interest on the government’s marketable debt was 2.028 percent.  In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent.  If we got back to that level today, we would be paying well over a trillion dollars a year just in interest on the national debt.

-At this point the U.S. government has accumulated more than 200 trillion dollars of unfunded liabilities that will need to be paid in future years.  In other words, we have made more than 200 trillion dollars worth of promises that we do not have money for yet.

Thomas Jefferson once said that “the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”

What we are doing to future generations is absolutely unconscionable.  We are stealing trillions upon trillions of dollars from our children and our grandchildren, and we are willingly consigning them to a lifetime of debt slavery.

I have said this before, but it bears repeating.  If future generations get the chance, they will look back and curse us for what we have done to them.

And shame on anyone that would dare to suggest that we should continue to run up more debt that future generations will be expected to repay.

But government debt is far from the only massive debt bubble that we are dealing with as a country.

40 years ago, the total amount of debt in our nation (all government debt plus all business debt plus all individual debt) was sitting at a grand total of about 2.3 trillion dollars.

Today, that total has grown to 59.4 trillion dollars.

As the chart posted below shows, our total debt bubble is now more than 25 times larger than it was just 40 years ago…

Total Credit Market Debt 2014

If you were to take all forms of debt in our country and divide it up equally to each person, the average family of four would owe approximately $735,000.

This is not anywhere close to being sustainable, but most Americans don’t seem to care.  They just continue to recklessly run up even more debt.

However, there are signs that we are starting to hit a wall with all of this debt.

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14 comments to The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months

  • Sam

    Ah yes, debt is freedom and war is peace in the land of misguided exceptionalism , so sad.

  • pepe

    I suppose it’s like having a credit card and knowing there’s no way you’ll ever be able to pay off the balance, except through bankruptcy, so, what the hell, you may as well run it up as high as you can before it all falls apart.

  • 80 billion a month injected through QE. (They will NEVER stop.)
    0 percent interest rates. (they will NEVER rise.
    400 trillion+ in derivative time bombs.

    The bubble has reached maximum stretch. It WILL pop. A very soon.

  • Troy

    Who do we owe the $17 trillion to? The fed can just print 17, one trillion dollar bills….problem solved.


    The Debt is an illusion anyway because DEBT is created out of thin air…

  • Rancher

    While many events could trigger a monetary collapse it all becomes a mute point if one has not prepared well in a balanced way. Having the essentials which include endless pure water, quality all season shelter with alternate heating sources, abundant food reserves, the ability to reproduce food including many mature fruit trees, good security and some numbers of other well set up preppers puts all these concerns to rest.
    We prepped to have all those things and much more so now we go fishing and enjoy life hoping nothing happens but respect History Repeating itself. Worrying only causes stress, being well secured and ready relieves all the stress. Articles like this no longer concern us other than raising the risk event level.
    Today we are canning yet more fresh fruits and drying others all from our spread. It will take a few weeks to get through it all. We give away a lot now but in the day we give away nothing. We keep it all or deploy it to lure in wildlife to harvest.
    Oh we are still going fishing a few times this week as well 😉

    My question is this. If you are not fully prepped for years with a secured location why are you posting on this site or any site? You are deluding yourself..

  • WillyT

    So if everything is rigged with respect to the stock market, PM’s market’s, interest rates, elections and so on, and governments can just print money when they need it, how does a collapse ever happen? What trigger is necessary for a collapse to happen? The elite have been in control for a long time and IMHO will still have control in the future. How does a collapse happen when they control so many things, they will not let it happen. I’ve read many articles about hyper inflation because of money printing, so far that hasn’t happened, YET. Would anyone out there be kind enough to explain, I am very curious. There is nothing normal the way the worlds monetary system operates today. Nothing makes any sense, so the things you used to look for do not apply any longer. Where do we go from here? Can anyone explain this?

  • Johan

    Yet the dollar is strengthening

  • andrew james

    Snyder says that future generations will curse us for what we’ve done to them. Let’s look back at what previous generations have done to us then. They stood by in 1933 and let the government say that Gold ownership was illegal. They stood by in 1964 and watched all of the Silver leave our money supply. IRA’s and 401k’s were set up in the late 70’s by my recollection and some people have already had their pension plans looted. It didn’t take them long to steal those. Once all of the Gold and Silver left the money supply there was no real money and no real accounting. Why the Treasury can’t issue our currency is a baffling mystery to me.

  • Hugo

    Hi SGT team report,

    I triend 2 times to post this vid (hat tip jesse cafe americain) with full credits. Sadly my posts do not show.

    I try it this way one more time. This presentation of mr Crispin Miller is great. He is a professor of media studies. He talks about lots, 9-11, Kennedy, ISIS, population control, Chile under Pinochet etc and the role of the media selling them stories to a gullable general public (speech for Architects for truth)


  • johns

    The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months..

    And, So What ???????

    Can I get a “logical” answer to my “query” ??????

    Please help me continue my “brain” functions, along with logical, sound reasoning to make decisions going forward.


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