National Debt Tops $14 Trillion

cbsnews.com ^ | January 3, 2011 5:57 PM | Mark Knoller

[Las Vegas Ron]

The latest posting today of the National Debt shows it has topped $14 trillion for the first time.

The U.S. Treasury website today reported that as of last Friday, the last day of 2010, the National Debt stood at $14,025,215,218,708.52.

It took just 7 months for the National Debt to increase from $13 trillion on June 1, 2010 to $14 trillion on Dec. 31. It also means the debt is fast approaching the statutory ceiling $14.294 trillion set by Congress and signed into law by President Obama last February.

[Las Vegas Ron]

Cloward & Piven are proud.

[Clintonfatigued]

I didn’t know that there were 14 trillion of anything.

[Las Vegas Ron]

Oops, don’t know why that didn’t show as an exerpt.

Read the rest here: http://www.cbsnews.com/8301-503544_162-20027090-503544.html

[Las Vegas Ron]

Simply mind boggling, isn’t it?

[Cementjungle]

The national debt clock website is running a little slow.

http://www.usdebtclock.org/

[pieceofthepuzzle]

“I didn’t know that there were 14 trillion of anything.”

There are at least that many mosquitoes in the Everglades..

[Terry Mross]

Congress could stop spending all together and the debt would rise. It’s called interest on the principle.

[Jolla]

$2trillion dollars in about a year, where is it?

[InvisibleChurch]

14 trill? They aren’t even trying. Amateurs.

[Don Corleone]

It also means the debt is fast approaching the statutory ceiling $14.294 trillion set by Congress and signed into law by President Obama last February.

Whoa hoss...whoa! Aw c'mon hoss...whoa! Enough IS enough already.

[Benchim]

The “full Faith and Credit “ of the US was destroyed 10 years ago by profligate spending without the revenue in the treasury—NOT BY STOPPING THE CEILING INCREASE!!!. NO RAISING OF THE CEILING !! STOP > CUT 30% from everything !!Get out of foreign countries and get these illegals out of here. Put the unemployed on community service 40 hours a week. DO IT NOW!!

[Las Vegas Ron]

Congress could stop spending all together and the debt would rise. It’s called interest on the principle.

Problem is they won't stop, all together....

[freedumb2003]

>>I didn’t know that there were 14 trillion of anything.<<

Let’s do a little practical math.

If you were to spend a million dollars A DAY — every single day back to when Jesus Christ was born, you would have spent 3/4 of a Trillion dollars. To get to one — ONE Trillion, you would start spending a million modern dollars a day starting around the Battle of Thermopylae in 480 BC.

To get to 14 Trillion dollars, you would spend a MILLION dollars a day for 38 THOUSAND years — 36,000 BC: when the very first humans began to use tools.

Ah, but it is just a name and a number of no importance. You, your kids, your grand kids, and your great-grandkids have no worries...

[Daisyjane69]

You mean THIS 2 Trillion?

http://blog.mises.org/15189/gao-cant-render-opinion-on-government-financials/

Inspires confidence, doesn’t it?

[screaminsunshine]

At the anticipated rate of acceleration when will it hit a Quadrillion? I never even heard about Billions until Sagan was on tv. My Ti calculator can not even do Trillions.

[JoeProBono]

[Twinkie]

When the hole is 3 feet deep, call in a bulldozer and quickly make it 30 feet deep (or deeper). That’s hope. That’s change.

[Dallas59]

Raise the ceiling to 50 trillion. Problem solved.

[Brilliant]

I thought the debt ceiling was $14 trillion? So doesn’t this mean Obama is violating the law and subject to impeachment?

[freedumb2003]

>>My Ti calculator can not even do Trillions.<<

I applied the format with all them zeros to the cell ikn Excel and it said “WTH???”