United Liberty
National debt soars to $13,000,000,000,000+
Fri, 06/04/2010 - 11:12am | posted by Jason Pye
The national debt has topped $13 trillion, according to the Treasury Department, not including estimated long-term unfunded liabilities, which exceed $52 trillion:
The National Debt topped $13-trillion for the first time in U.S. history - reflecting the surge in government spending that will push the Debt to increasing highs through the rest of the decade.
Posted on the Treasury Department website this afternoon, the National Debt hit $13,050,826,460,886.97 as of June 1st.
Tallied against the nation’s Gross Domestic Product, the latest Debt number amounts to nearly 89.4 percent of the total economy.
It was just November when Brett, Doug, Mike Hassinger and myself “celebrated” the federal government’s accomplishment of surpassing $12 trillion by drunk podcasting.
Break out the Jack Daniels, guys. It looks like we’re toasting again. And at the rate their spending, a daily deficit of $4.9 billion, it won’t be too long before we’re at $14 trillion.
