National debt grows $1 million a minute

[trof]

Source: AP

12/3/2007, 5:55 a.m. CST
By TOM RAUM
The Associated Press

WASHINGTON (AP) — Like a ticking time bomb, the national debt is an explosion waiting to happen. It's expanding by about $1.4 billion a day — or nearly $1 million a minute.

What's that mean to you?

It means almost $30,000 in debt for each man, woman, child and infant in the United States.

Read more: http://www.al.com/newsflash/washington/index.ssf?/base/politics-5/1196669644263490.xml&storylist=washington

---

So, in the time it took me to post this we went another $3,000,000.00 in debt.
Un. Believable.

[zabet]

1. I would like

to spend a minute's worth
of that debt. They can just
put my minute on the books as
some more of that unaccounted
for missing money.

[SpiralHawk]

2. "Smirk, smirk, smirk" - Commander AWOL & Republicon Homelander cronies

[Zorra]

3. Heckuva job, Bu*hie. n/t

[onehandle]

4. Numbers have a liberal bias. nt

[rodeodance]

5. ha , and he has the nerve to lecture congress about overspending!!

[UpInArms]

6. I'm surprised anyone noticed

here are the "national debt" headlines for the past 8 years. Damn few.


The estimated population of the United States is 303,701,374
so each citizen's share of this debt is $30,112.99.

The National Debt has continued to increase an average of
$1.49 billion per day since September 29, 2006

http://www.brillig.com/debt_clock/

3 Apr 07 - Editorial: A step toward fiscal sanity (The Star-Ledger (New Jersey))
13 Mar 07 - Wincing Dems are likely to raise the limit on Debt (The Hill)
13 Feb 07 - Editorial: Debt and the Bush budgets (Washington Times)
16 Mar 06 - Congress sets new Federal Debt Limit: $9 trillion (National Public Radio)
16 Mar 06 - Senate votes Debt Limit hike to $8.965 trillion (Reuters)
16 Mar 06 - US Debt: At least it's not $1 zillion (Reuters)
16 Feb 06 - U.S. moves to miss hitting Debt Ceiling (MarketWatch)
8 Feb 06 - Big Deficit looms behind revival of 30-year bond (Reuters)
7 Feb 06 - Bush's Budget sparks bipartisan protest (CBS News)
30 Jan 06 - Federal borrowing raised to record level (CNN)
10 Jan 06 - Bush seeking to limit spending growth in '07 Budget (Bloomberg)
8 Jan 06 - U.S. hovers close to its Debt Ceiling -- Treasury boss says government business could be affected (San Francisco Chronicle)
27 Nov 05 - Deficit cracking GOP's solidarity -- party-line vote no longer assured (San Francisco Chronicle)
26 Nov 05 - Opinion: Get down to business on U.S. Deficit (The Indianapolis Star)
20 Oct 05 - Budget debate a defining moment for GOP, groups say (CNSNews)
5 Oct 05 - Editorial: Bush mismanagement worsens Deficit (The Capital Times (WI))
17 Sep 05 - Analysis: Katrina's costs will swell National Debt (Associated Press)
7 Sep 05 - Budget Deficit yet another storm victim (Los Angeles Daily News)
10 Apr 05 - Editorial: $7,782,816,546,352 in Debt (CBS News)
7 Apr 05 - Editorial: Bureau of Public Debt: Surrounded by IOUs (Seattle Post-Intelligencer)
4 Apr 05 - Bush's agenda faces opposition from election-wary Republicans (Bloomberg.com)
25 Jan 05 - $1.3 Trillion in Deficits forecast over decade (Los Angeles Times)
21 Jan 05 - Does Social Security really face an $11 trillion Deficit? (FactCheck.org)
13 Jan 05 - Critics call Bush's Deficit efforts feeble (Boston Herald)
10 Jan 05 - Editorial: Deficit deception (St. Petersburg Times)
19 Nov 04 - Bush signs <$800 Billion> Debt-limit hike (CBS News)
18 Nov 04 - Senate votes to let US borrow up to $8.18 trillion (Boston Globe)
4 Nov 04 - Why Democrats should be thankful -- at least they won't have to clean up the Bush fiscal catastrophe (Slate -- MSNBC)
3 Nov 04 - Administration pressures Congress to raise Debt Ceiling (Boston Globe)
23 Oct 04 - Where stand on taxes and the Budget (Detroit Free Press)
9 Jun 04 - Editorial: Reagan policies gave green light to red ink (Washinton Post)
2 Feb 04 - Bush sends $2.4 trillion budget (including record $521 billion Deficit) to Hill (CBS News)
4 Jan 04 - Bush's budget for 2005 seeks to rein in domestic costs (New York Times)
17 Dec 03 - Bush Deficit plan draws derision (CBS News)
9 Jul 03 - Home is where the National Debt is (The Providence Journal)
28 Jun 03 - Treasury official criticizes Debt ceiling (Washington Post)
19 Jun 03 - Editorial: Delusional on the Deficit, by Sen. Ernest Hollings (Dem-SC) (Washington Post)
15 Jun 03 - Aging population makes this Deficit scarier (USA Today)
10 Jun 03 - Congressional analyst now sees this year's Deficit exceeding $400 billion (San Francisco Chronicle)
31 May 03 - Democrats expect record Debts -- Federal Deficit is forecast to approach $500 billion next year (Washington Post)
20 May 03 - White House urges Senate to raise Debt ceiling soon (Washington Post)
14 Mar 03 - GOP senators oppose size of Bush tax cut (NY Times)
20 Feb 03 - U.S. Government hits national debt ceiling -- Treasury begins taking evasive actions (CNN)
29 Aug 01 - Congressional Budge Office: "Social Security funds needed to balance books" (CNN)
22 Feb 01 - Bush unveils 'fiscally responsible' budget--reduces Deficit, but not Debt (CNN)
27 Sep 00 - President Clinton Announces Another Record Budget Surplus (CNN)
7 Sep 00 - National Debt Clock Stops, Despite Trillions of Dollars of Red Ink (CNN)
26 Jun 00 - Concord Coalition Warns that the new "Surplus" is not new money, it's simply a new projection (Concord Coalition)
1 May 00 - Clinton Announces Record Payment on National Debt (CNN)
4 Aug 99 - US to buy back National Debt, first time in 25 years (BBC)

[grahamhgreen]

11. Course the cost per person is worse if you look at taxpayers only...

[CatholicEdHead]

24. I remember when it was turned off at $7 Trillion

[focusfan]

7. the s.o.b needs to stop

I wish Nancy having her head in her ass Pelosi would wake up
and impeach the bum

[DeepModem Mom]

8. K&R

[Possumpoint]

9. What Would It Take To Turn This Around?

Cease operations in Iraq and Afghanistan would go a long ways towards that goal but it would only be a start. We should consider withdrawing our troops from stations in Europe, Japan and Korea. Only fear keeps them there. Now to develop a balanced budget here at home. Our bloated Federal Government needs to be reduced. I've heard interesting ideas about eliminating the IRS and going with a flat tax, income tax.

Problem is the overspending is endemic with both parties. In efforts to get re-elected, members of congress pride themselves in throwing bones to the electorate. With a balance budget requiring them to get it right there would be some changes. Proposes that increase spending would have to be justified with reductions of spending in other areas.

[driver8]

10. ...and the freepers on my veterans' board are worried about Hillary raising taxes!!

But they don't want to hear anything about the national debt and the hole that junior is putting us in -- that's not important.

[grahamhgreen]

12. SLOGAN TIME - "Increasing debt IS raising taxes"

Something like that...

[walk softly]

14. Great Framing!!

Thanks for the excellent observation. Is there someway you could start a thread with this idea?

[Greyskye]

16. That phrase deserves its' own thread.

:thumbsup:

Just sayin'...

[grahamhgreen]

28. uh, how and where would I do that?

[Hydra]

13. Of course it isn't news

looming economic breakdown, working on 10 Trillion national debt, trade deficits reaching toward 1 trillion per year...

Bushco wants to switch to a new currency...but we wouldn't agree to that unless there seemed no other choice, right?

[krkaufman]

21. Some sort of economic shock, eh? n/t

[HughBeaumont]

15. You . . . you mean magic debt fairies won't be erasing that big huge number??!?!111/!?

:sarcasm:

[Megahurtz]

17. Holy Fuck!

[kineneb]

18. dudes, we owe more than we live on

in simple math-

2 adults = $60,000 owed on debt
disability payment, per year= $14,800

Can we all just declare bankruptcy and start over?

[JBoy]

19. Brought to you by the GOP, the party of debt

http://zfacts.com/metaPage/lib/National-Debt-GDP.

Edit: As a comparison with Canada, you can see both Canada and the US making similar improvements in their fiscal positions during the Clinton years, but then you can see the obvious impacts of Y2K on the US only:

[Dark]

20. So, in the course of 24 hours, we'd rack up enough in debt to pay for a $5 meal for every American.

Of course, that'd be ... SOCIALIST!!!!

But blowing up foreigners and corporate tax breaks are more important.

[fascisthunter]

22. So While Reading This Article

the US has gone 1 million more in debt. And Republicans claim Dems will raise taxes? They really aren't living in reality are they?

[AlphaCentauri]

23. Can we blame illegal aliens for this?

please please

:sarcasm:

[roamer65]

25. Don't worry, the Fed will just create more $$$ via computer.

They don't even have to print it anymore.

[progressoid]

26. Remember when Cheney said, "Debt isn’t important "

Or words to that effect. Christ, I think that attitude is accurate for too many Americans .

[Toots]

27. How much in interest do we pay to sustain that debt?

We pay more in interest on our debt than all social programs combined except Social Security which pays it's own way plus...