All In 191 Years’ Work

2 05 2016

Washington, D.C.

The total national debt didn’t hit $1 trillion until October 1981.

The national debt has increased by that much in the six months since Sir Orange of Cincinnati’s final parting shot.

One other national debt statistic I probably uniquely monitor is this:  The dollar trajectory of the national debt started shooting upward when Nancy Pelosi became House Speaker after the 2006 blue wave midterms, she formally got the gavel on January 3, 2007.  In all the time since that day, either she has been House Speaker or Baraq Obama has been President of the United States, and relevant Republican Party officials in that time span have mostly aided and abetted their profligacy, those being George W. Bush, the aforementioned Sir Orange, or the current House Speaker, Eddie Munster.  So I subtract the current national debt from the national debt on January 3, 2007, then divide.  As of end of April reporting 54.7% of American history’s national debt has been the doings of Pelosi/Obama.

Before I get any e-mails, I know, it’s not entirely a fair comparison, percent of GDP is better, yadda yadda.

Of course, I’m typing this for nothing, because I know that nobody gives a shit, and nobody’s going to give a shit as long as enough people and institutions are buying T-Bills.  And people are going to keep buying T-Bills as long as the interest rate climate outside of T-Bills sux rox, and as long as the American military is or seems to be by far the world’s most powerful.


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4 responses

2 05 2016
AnAnon

It cannot continue and it will not continue.

“Before I get any e-mails, I know, it’s not entirely a fair comparison, percent of GDP is better, yadda yadda.” – Our GDP isn’t more than double what it was back in 2007. GDP growth has slowed considerably. the comparison is more than fair in that sense, though I will agree that this could merely be a symptom of the wheels coming off rather than out of control spending.

2 05 2016
Chuck

I’ve never understood the percent of GDP rationale. If any measurement was going to provide an accurate picture of the hole that we’re in I would think it would be percent of tax monies collected. Which has to make the hole exponentially bigger.

2 05 2016
countenance

It’s supposed to be the national analogue to household debt to household yearly income ratio. The problem with it is that the very definition of GDP has been expanded to put so much stuff in the GDP, so much questionable stuff, that I don’t think it’s quite that useful anymore.

2 05 2016
Chuck

I agree it isn’t useful. If all the “stuff” that can comprise GDP totals $10 trillion taxes collected would be perhaps $3 trillion. That would be like me saying I made $100k, but I only collect $30k to fund my lifestyle and service my debt. It’s nonsense.




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