WT: U.S. marks 3rd-largest, single-day debt increase

[WildspitzE]

Apologies if it's a repost.

http://www.washingtontimes.com/news/...ay-debt-boost/

"The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground.

The one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007 and larger than the $140 billion in savings the new health care bill will produce over its first 10 years. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income."

They've gone to plaid!
http://www.youtube.com/watch?v=mk7VWcuVOf0

[big67]

Re: WT: U.S. marks 3rd-largest, single-day debt increase

Thank you for posting.

This thing can't go on forever, thus it will stop.

The epiphany will be abrupt, as EJ and other forecast...

[doom&gloom]

Re: WT: U.S. marks 3rd-largest, single-day debt increase

Cheney said "Deficits don't matter." Obama is out to prove that is true.

[LargoWinch]

Re: WT: U.S. marks 3rd-largest, single-day debt increase

Cheney said "Deficits don't matter." Obama is out to prove that is true.

No, no, no; all is under control...see:

WASHINGTON (AP) -- The International Monetary Fund is calling for the United States to make a stronger effort to curb its budget deficits.

The IMF! This is serious...


Better yet, here is the proposed solution!

The IMF said Thursday that in addition to cutting government spending, the Obama administration will have to consider raising taxes to get the U.S. deficit down to a manageable level.

[doom&gloom]

Re: WT: U.S. marks 3rd-largest, single-day debt increase

they can raise all they want, but they seem to be spending at a far faster rate nowadays.

[blazespinnaker]

Re: WT: U.S. marks 3rd-largest, single-day debt increase

Government needs to cut spending & taxes as much as possible and then lower interest rates until they're slightly negative.

Reganomics++

Government spending is highly destructive except for specific national infrastructure projects that are unrelated to stimulus spending.

[LargoWinch]

Re: WT: U.S. marks 3rd-largest, single-day debt increase

... and then lower interest rates until they're slightly negative.

As in negative real rate?