US Debt Tops $15,000,000,000,000.00

At about 3:30 Eastern, the United States debt topped $15 Trillion dollars. From ABC:

The deficit has ballooned to nearly $48,000 for every man, woman and child in the U.S. This year alone, the U.S. will spend $1.3 trillion more than it takes in.

The debt has expanded at an alarming pace, from $7.5 trillion in 2004 and $5.6 trillion in 2000. At the current rate, Debtclock.org reckons that the debt will top $23 trillion in 2015, though the nonpartisan Congressional Budget Office puts the estimate at $17.6 trillion.

Back in August after a protracted fight, Congress voted to raised the national-debt ceiling by $2.7 trillion to $17 trillion, while requiring $2.7 trillion in deficit reduction by 2021.

Compared with other developed nations, the U.S. has a debt to GDP ratio of 85 percent, compared with Germany at 74 percent and Japan at a whopping 194 percent. World debt clocks can be found here.

Real time debt numbers from USDebtClock.org.

Ten thousand dollars:

One million dollars:

One hundred million dollars:

One billion dollars:

One trillion dollars:

One trillion dollars again:

Fifteen trillion dollars:

Graphic from USdebt.Kleptocracy.us.

posted by rdbrewer at 04:40 PM

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