At the current spending rate of $375 billion per week, for the 14 weeks between now and Feb 1 the increase in debt would be $5.250 Trillion, putting the debt at $17.45T + $5.25T = $22.7T.
HOPE AND CHANGE, in action.
Why not just shoot for $100T for round numbers? The Fed can change the printers over to floods of million dollar bills, 20-, 50 - and 100-million dollar bills, and even the least of us will be millionaires... who still can't afford to buy groceries without food stamps.
6 comments:
On the linked site, in the chart shown, it reads that the debt held by the public is $12,115,702 whereas intragovernmental holdings are $4,958,558. This is a joke, right?
Basic arithmetic: add the two numbers to get to the shutdown debt level; then add 350B twice for the two weeks in the shut down. Then multiply 350B by 14 wks. Add the latter to the former.
It's simple arithmetic; really.
$375 billion was a spike. I bet you that it won't be $22.7T in 14 weeks. I don't even think you believe it yourself.
That number is just an indication of the rate. Of course it won't be exactly that number, just like the weather is not just like the forecast said it would be.
If spending were under control, then Obama would not have run of money after only 3/4 of the fiscal year. The Dems are spending with no regard to responsible budgetary management. and the Repubs are complicit.
Stan, there's nothing wrong with my arithmetic. The issue is that the fed manufactured the money out of thin air and then the government spent well beyond their means, so where do they get off passing the buck onto the public? We didn't amass roughly 3/4ths of the debt, they did. They spent money recklessly, taxing the public on everything under the sun, even going so far as to dip into people's Social Security savings, to finance themselves ...and now they want to lay it all on our doorstep? Screw that.
Well, Michael, I agree completely.
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