It’s official: We are now $16 trillion in debt

posted at 6:58 pm on September 4, 2012 by Erika Johnsen

That. Just. Happened. There’s been a bit of waffling on when exactly it occurred between last Friday and Tuesday, but regardless, that ship has sailed.

Total U.S. government debt eclipsed $16 trillion for the first time Friday, new government data show, as total federal borrowing continues marching toward the $16.394 trillion borrowing limit.

The Treasury Department said total government debt hit $16,015,769,788,215.80 on Friday, up $25 billion from the day before. The amount of federal debt subject to the borrowing limit is actually slightly less, as it doesn’t include several types of borrowing, and it stood at $15.977 trillion on Friday.

Ah yes, remember when Obama promised he’s cut the deficit in half by the end of his first term in office? Heh, that ol’ chestnut. In actuality, President Obama has added over $5.4 trillion to the debt during less than four years in office, more than any other president and approximately a trillion more than President Bush during his full two terms in office. So, there’s that.

Parting thought: How much is a trillion?


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690 Reasons To Defeat Obama

http://predicthistunpredictpast.blogspot.com/2012/09/690-reasons-to-defeat-obama.html

M2RB: Aerosmith

Resist We Much on September 4, 2012 at 7:01 PM

Whoohoooo!

ALL HAIL DEAR LEADER….4 MORE YEARS!!!!!

/

cmsinaz on September 4, 2012 at 7:01 PM

Erika, the dems will still blame bush

*sigh*

cmsinaz on September 4, 2012 at 7:02 PM

Good job, Barky!

squint on September 4, 2012 at 7:02 PM

Progress…

FontanaConservative on September 4, 2012 at 7:03 PM

I’m sure the Dems will be talking about that a LOT this week. /

changer1701 on September 4, 2012 at 7:04 PM

Parting thought: How much is a trillion?

A million million.

Crikey!!

Bitter Clinger on September 4, 2012 at 7:04 PM

This is incredible. Tried to watch Brett Bair (whatev) on FNC and can’t hear anyone over all the screaming from the floor. “Obama gonna give you this… Obama gonna give you that”.

No God
No Israel

Just Obama

………..

God is not mocked.

Key West Reader on September 4, 2012 at 7:04 PM

And he got us there in only four years; think of where we’ll be if he gets another term.

I like this line from the article below:

“[The media's] liberal view is that Obama’s Presidency like a kitchen remodel: oh sure, he spent the first term doing demolition, but the real results will come in the second term. (When he has “more flexibility,” one assumes.)”

http://piqscore.com/2012/08/forget-wall-street-occupy-30-rockefeller-center/

VastRightWingConspirator on September 4, 2012 at 7:05 PM

Incomplete yet exceptional!!!

Winning!!

/

CW on September 4, 2012 at 7:06 PM

forward!

tom daschle concerned on September 4, 2012 at 7:06 PM

and the problem is that IF romney gets elected, every $ that he tries to save from the 3.8 trillion will be met with a screaming press corps, where David gregory pounds on the desk about the people that will die and remain in chains…the chains of illiteracy and poverty if even one dollar gets cut (well, but for DoD)

there will be greek like riots at turning back from the transformation

and btw, has every one seen this little Bizarre little clip from the DNC

http://twitchy.com/2012/09/04/mitt-romney-to-dnc-we-dont-belong-to-government/?utm_source=autotweet&utm_medium=twitter&utm_campaign=twitter

we all belong to the government?…huh?

r keller on September 4, 2012 at 7:06 PM

The leftist fools think that one just prints more money.

Schadenfreude on September 4, 2012 at 7:08 PM

Erika, you’re young — would you highlight the import of this in the next 3 months, especially to your peers? This is robbing your generation blind. If Obama is reelected, and the debt rises to $21 trillion, then, what do people think will happen? People will stop lending us money. And then, no matter how wonderful and kind and compassionate Obama is, if we’re broke, we’re broke. Inflation, an economic crash as has never been seen before, riots, who knows.

Paul-Cincy on September 4, 2012 at 7:08 PM

I keep seeing these great ads…does anybody know if they actually AIR…or just web. Hope they are out there!

winston on September 4, 2012 at 7:09 PM

Idiots like Hannity never correct leftist morons who quote “Leaning Forward” as something great.

Schadenfreude on September 4, 2012 at 7:09 PM

http://www.pagetutor.com/trillion/index.html

davidk on September 4, 2012 at 7:11 PM

and btw, has every one seen this little Bizarre little clip from the DNC

http://twitchy.com/2012/09/04/mitt-romney-to-dnc-we-dont-belong-to-government/?utm_source=autotweet&utm_medium=twitter&utm_campaign=twitter

we all belong to the government?…huh?

r keller on September 4, 2012 at 7:06 PM

Stunning. All you are belong to us.

de rigueur on September 4, 2012 at 7:12 PM

The Dems are saying the rich have to “pay their fair share”. But if the marginal rate is increased from 35% to 39%, which is the proposal, the (static analysis, assuming no detriment to financial growth) estimate is we’ll get another $70 billion a year. We piss that away in a week! A WEEK! That’s NOTHING! OK, soak the rich. What else have they got?

Paul-Cincy on September 4, 2012 at 7:12 PM

Putting this into perspective:
A trillion seconds is 32,000 years.

diogenes on September 4, 2012 at 7:14 PM

OMG Harry Reid is speaking at the DNC. He wants to work with Obama, not with a “Tea Party ideologue”. LOL. Like Romney is a Tea Partier!

Paul-Cincy on September 4, 2012 at 7:14 PM

I keep seeing these great ads…does anybody know if they actually AIR…or just web. Hope they are out there!

winston on September 4, 2012 at 7:09 PM

Some of what you’re seeing on the web is being broadcast or cablecast or satellite-cast. But only in about a dozen battleground states.

Oh, and in California, where Obama runs his ads to try to raise money.

de rigueur on September 4, 2012 at 7:15 PM

Idiots like Hannity never correct leftist morons who quote “Leaning Forward” as something great.

Schadenfreude on September 4, 2012 at 7:09 PM

Be careful if Bawney Frank tells you to Lean Forward.

CW on September 4, 2012 at 7:15 PM

One of the depressing parts of this story is that Boehner has no plan and no intention of stopping Obama’s spending.

He’ll bluster for the cameras, then do nothing but OK another trillion here and there.

mankai on September 4, 2012 at 7:19 PM

Obama, the SIXTEEN TRILLION DOLLAR MAN…

Khun Joe on September 4, 2012 at 7:21 PM

and btw, has every one seen this little Bizarre little clip from the DNC

http://twitchy.com/2012/09/04/mitt-romney-to-dnc-we-dont-belong-to-government/?utm_source=autotweet&utm_medium=twitter&utm_campaign=twitter

we all belong to the government?…huh?

r keller on September 4, 2012 at 7:06 PM

The mask is completely off.

davidk on September 4, 2012 at 7:21 PM

U.S. Debt Now $136,260 Per Household—Up 50% Under Obama
http://cnsnews.com/node/583596#comment-639782358

(CNSNews.com) -The U.S. government debt, which topped $16 trillion for the first time at the close of business on Friday, now equals approximately $136,260 for every household in the country.

Just since President Barack Obama was inaugurated on Jan. 20, 2009, the debt has increased by $45,848 per household—or about 50 percent per household.

Wah hooo!

And just think, the dear liar says he hasn’t “Completed” the job – what else could we be looking Forward to?

Colbyjack on September 4, 2012 at 7:21 PM

Super fiscal

Ugly on September 4, 2012 at 7:22 PM

The peeps don’t care about 16 trillion, they care about Michelle talking calories tonight! Just watch NBC, ABC, CBS, PBS! Get a grip!

Limerick on September 4, 2012 at 7:23 PM

The GOP can’t make the mistake though of just touting this number and banking on Americans understanding what $16 trillion of debt represents.

It’s one of those unfortunate realities that we’ve been told we’re going broke since the nation was founded. Both sides of the aisle have been screaming about deficits.

Conservatives need to connect the dots for Americans about what this massive debt does to the middle class and that this is not just “business as usual” in Washington, otherwise, it’s just an abstract figure that most people will ignore.

BradTank on September 4, 2012 at 7:25 PM

Ah yes, remember when Obama promised he’s cut the deficit in half by the end of his first term in office?

I n c o m p l e t e !

KOOLAID2 on September 4, 2012 at 7:27 PM

So lets get the peeps view straight….

One five million dollar printing press can make five trillion dollars in 28.4 minutes. What’s to worry about?

Limerick on September 4, 2012 at 7:27 PM

and btw, has every one seen this little Bizarre little clip from the DNC

http://twitchy.com/2012/09/04/mitt-romney-to-dnc-we-dont-belong-to-government/?utm_source=autotweet&utm_medium=twitter&utm_campaign=twitter

we all belong to the government?…huh?

r keller on September 4, 2012 at 7:06 PM

The mask is completely off.

davidk on September 4, 2012 at 7:21 PM

Well, aren’t slaves owned by their master?

Colbyjack on September 4, 2012 at 7:28 PM

All those babies deserve that debt for punishing their mothers with babies!

Have they unveiled volcano sacrifice altar yet?

forest on September 4, 2012 at 7:28 PM

Erika, the dems will still blame bush

*sigh*

Well, Bush era economic policies live on. Maybe it’s time to revert back to tax rates and spending levels under Clinton.

The Dems are saying the rich have to “pay their fair share”. But if the marginal rate is increased from 35% to 39%, which is the proposal, the (static analysis, assuming no detriment to financial growth) estimate is we’ll get another $70 billion a year. We piss that away in a week! A WEEK! That’s NOTHING! OK, soak the rich. What else have they got?

Actually there are many ways to return top bracket taxes to 1980′s era levels and generate significant revenue.

http://economix.blogs.nytimes.com/2011/08/23/what-the-rich-can-afford-in-income-tax/

bayam on September 4, 2012 at 7:28 PM

Ah yes, remember when Obama promised he’s cut the deficit in half by the end of his first term in office?

I n c o m p l e t e !

KOOLAID2 on September 4, 2012 at 7:27 PM

True, he does still have 3 1/2 months left to fulfill that promise.
////////////////////

Bitter Clinger on September 4, 2012 at 7:30 PM

Well, Bush era economic policies live on. Maybe it’s time to revert back to tax rates and spending levels under Clinton.
bayam on September 4, 2012 at 7:28 PM

Obama had two solid years of Dem rule. What did he do? You and he failed.

Hey can you tell us again about how the bestest companies are liberal?
Please one more time!!

CW on September 4, 2012 at 7:33 PM

God is not mocked.
Key West Reader on September 4, 2012 at 7:04 PM

Truly, just recall the Titantic braggarts, it will not end well for them.

MrMoe on September 4, 2012 at 7:33 PM

Obama had two solid years of Dem rule. What did he do? You and he failed.

I failed? Can you tell us one more time how liberals have no understanding of capitalism and free enterprise, unlike the masterful righties like Joe the Plumber?

bayam on September 4, 2012 at 7:36 PM

Headwinds and Seamus the Dog you filthy dog whistling racists.

$16 trillion ain’t nothing.

I will save or create 400 million new jobs but we will need to invest $50 trillion to do that.

I am Barky Barry Husseini bin Chicagoland and I approve of this message.

CorporatePiggy on September 4, 2012 at 7:38 PM

Print more money; borrow more from China; give everyone a free Volt. It’s all good/

Oh, and you didn’t build that, somebody else did.

hillbillyjim on September 4, 2012 at 7:39 PM

I failed? Can you tell us one more time how liberals have no understanding of capitalism and free enterprise, unlike the masterful righties like Joe the Plumber?

bayam on September 4, 2012 at 7:36 PM

It’s written in everyone of your posts. You really have no clue.

chewmeister on September 4, 2012 at 7:39 PM

righties like Joe the Plumber?

bayam on September 4, 2012 at 7:36 PM

Pssst you’ve used that one before. Please tell me about
Apple and Amazon. Please.

(I love how you’re copying me now. I see I hit a nerve) Yes you supported Obama …you had your chance. You failed.

CW on September 4, 2012 at 7:40 PM

E-I-P-C F-I-A-L.

Nutstuyu on September 4, 2012 at 7:41 PM

BRAYAM you’re the master of the fallacious argument only it would be more fun if you were a little more creative. I am sorry A LOT more creative. My goodness you think your so smart using the same tired lines while you cherry pick your links without even reading them.
You had your chance.

CW on September 4, 2012 at 7:42 PM

Maybe it’s time to revert back to tax rates and spending levels under Clinton.
bayam on September 4, 2012 at 7:28 PM

Calling your bluff! I will gladly give Clinton tax rates for a Clinton budget!!!!one!!eleventy!!!

Nutstuyu on September 4, 2012 at 7:45 PM

bayam on September 4, 2012 at 7:36 PM

If you and your fellows of the National Socialist Left are going to use the pitiful “It’s Bush’s fault” then perhaps you can explain how El Presidente Downgrade could be so incompetent as to not be able to solve the economy’s woes?

You’ve got a choice – either Downgrade gave us Decline, Division and mountains of Debt making things worse..

Or he’s incompetent in not being able to fix the problems he “inherited”.

Pick one.

Chip on September 4, 2012 at 7:50 PM

Maybe it’s time to revert back to tax rates and spending levels under Clinton.
bayam on September 4, 2012 at 7:28 PM

Calling your bluff! I will gladly give Clinton tax rates for a Clinton budget!!!!one!!eleventy!!!

Nutstuyu on September 4, 2012 at 7:45 PM

Heh. I would not expect any honest out of that one.

Bayam’s just a liar. Just yesterday it once again extolled the virtues of corporate welfare then turned around and claimed nobody liked corporate welfare.

CW on September 4, 2012 at 7:50 PM

*honesty

CW on September 4, 2012 at 7:51 PM

Too bad this isn’t an election year…

Seven Percent Solution on September 4, 2012 at 7:51 PM

Brayam for a liberal type you’re not very original. Maybe you should turn your membership card back in.

Seriously tiresome.

For old time sake can you mention Rush and Glenn Beck…please?
/

CW on September 4, 2012 at 7:56 PM

Heh, that ol’ chestnut.

RACIST!

BRunner on September 4, 2012 at 7:57 PM

Heh. Just what I thought.

CW on September 4, 2012 at 8:02 PM

LOL. Like Romney is a Tea Partier!

Paul-Cincy on September 4, 2012 at 7:14 PM

Strange times. The left is accusing Romney of being a Tea Partier. In the meantime conservatives accuse him of sipping his tea from fine china at the country club along with the establishment.

Happy Nomad on September 4, 2012 at 8:03 PM

Nothing says fiscal sanity like 16 trillion in debt eh Brayam.

Obama has collected as much as all the previous presidents combined. Sorry I’ll pass bootlicker. You’ve lost any self-respect.

Okay another request and I need you to say it loudly:

Corporate Welfare Rocks!!!!!

CW on September 4, 2012 at 8:06 PM

U.S. Debt Now $136,260 Per Household—Up 50% Under Obama
http://cnsnews.com/node/583596#comment-639782358

(CNSNews.com) -The U.S. government debt, which topped $16 trillion for the first time at the close of business on Friday, now equals approximately $136,260 for every household in the country.

Just since President Barack Obama was inaugurated on Jan. 20, 2009, the debt has increased by $45,848 per household—or about 50 percent per household.

So after another 4 years, that will be about $180,000 per household. Of course, half of households get government assistance, so they probably won’t be helping to pay that money back. Therefore, if Obama gets another term, households that are helping pay our federal govenrment expenses will owe about $360,000 each. That’s $360,000 over and above other taxes that they pay. That will be to pay off the spending that has already occurred, not to cover the future expenses of Social Security and Medicare.

If that isn’t enough to get you to vote straight ticket R, what is? I know they aren’t great, but they will be better than a Democrat Senate and President.

talkingpoints on September 4, 2012 at 8:06 PM

talkingpoints on September 4, 2012 at 8:06 PM

As a nation were actually around 100 trillion in debt but who is counting?

CW on September 4, 2012 at 8:14 PM

It’s incomprehensible. It’s like the whole thing is a hoax that we are stuck playing along with.

Buddahpundit on September 4, 2012 at 8:18 PM

The dems will just blame it on Bush. Let’s hope the idiot voters of this country don’t believe it. But they’ll believe anything…..

nazo311 on September 4, 2012 at 8:34 PM

Obama’s legacy.

Ward Cleaver on September 4, 2012 at 8:39 PM

Actually there are many ways to return top bracket taxes to 1980′s era levels and generate significant revenue.

http://economix.blogs.nytimes.com/2011/08/23/what-the-rich-can-afford-in-income-tax/

bayam on September 4, 2012 at 7:28 PM

Yeah! Let’s return to 28%!

Resist We Much on September 4, 2012 at 8:44 PM

I don’t even know how we will pay this off.

Sachiko on September 4, 2012 at 8:52 PM

Here’s a take on trillions:

If the $16,000,000,000,000 in debt were barrels of oil that we could tap, then at the current estimated global usage of @100 million barrels per day, the oil would last over 438 years.

stukinIL4now on September 4, 2012 at 10:08 PM

May God help us if we don’t get rid of Obummer on November 6th. The coming economic collapse and depression will make the formerly Great Depression look like a picnic.

I feel a deep sense of forboding when I remember my grandmother’s accounts of the depression. Seven adults and I don’t know how many children all living in one house. Only one person had a job. Difficulty affording tires and gasoline to keep the one car going so the one employed person could get to work. Both the men and women went looking for day jobs every day. The women took turns – one of them would stay home to watch everybody’s children so the others could look for work. Barely having enough to eat to keep from starving. I surely do hope that is not the future for us and our children but I’m afraid that is the future that a second Obummer term will take us to.

sherrimae on September 5, 2012 at 12:02 AM

But…but…he’s so brilliant!!

RadioAngel on September 5, 2012 at 1:53 AM

Has anybody seen the TSA or purple shirts coming through their neighborhoods handing out the 666 tattoos yet? Just checking. The dems replaced God on their platform with abortions all the way through birth. They really are the party of death. I’m on the way to Cabelas.

Kissmygrits on September 5, 2012 at 7:56 AM

The leftist fools tools think that one just prints more money.

Schadenfreude on September 4, 2012 at 7:08 PM

Fixed it for you

Hammie on September 5, 2012 at 10:15 AM