New Record: Total U.S. Debt Over $18 TRILLION

Yahoo! At this rate we'll have 5 mile long lines in front of empty grocery stores before Obama's even out of office, but at least everyone in those lines will have Obama Food Stamps and an Obama EBT card, and Federally subsidized Health Care which works as well as the grocery line does.

weaselzippers;

Up 70% under Obama…

Via Zero Hedge:

Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.

It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the “benefit” of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

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Thank You Zero Hedge and Mr Stone.