Total US Debt Soars To 101.5% Of GDP

Zero Hedge ^ | 5/01/2012 | Tyler Durden

[SatinDoll]

There is nothing quite like a $70 billion debt auction settlement at the last day of a month to bring total US debt to a record $15.692 trillion, which happens to be just $600 billion shy of the $16.394 trillion debt ceiling. (and no, contrary to simple economic textbook lesson, this does not mean that the private sector just got another $70 billion in debt capacity courtesy of taxpayers, as explained here). And now that we know what Q1 GDP was at the end of Q1, or namely $15.462 trillion, it is simply math to divine that today alone total US/debt to GDP rose by 50 bps to a mindboggling 101.5%.

[snip]

[TwelveOfTwenty]

This is one reason why I don't believe in this recovery. Any job growth and increase on consumer spending is being paid for using borrowed money to fund government make-work jobs and extended unemployment benefits.

Speaking of debt inherited by Obama, here is the debt inherited by Senator Obama and the Democrat majority Congress that replaced the GOP majority Congress in Jan. 2007.

[Starboard]

The choice in November, like it or not, will be between electing a new president and further empowering a dictator. That’s the reality. I’ll take my chances with Romney anyday.

[griswold3]

Exactly!

[PGalt]

Socialism’s Plunder Largely Responsible For 101.5% Debt to GDP Ratio.

DEFUND socialist collectives, foreign AND domestic.

DEPOPULATE socialists from the body politic.

Socialism = plunder & death.

live - free - republic

[Nachum]

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[RightSight]

Given the current figures and the current rate of borrowing ($4B-$5.2B per day), we should hit the debt limit somewhere between 4 and 8 weeks before the election. This might get entertaining...

[Nowhere Man]

But did you know that Obama killed Osama? Please don’t peak behind the curtain, there is nothing to see there.

Call me a middle aged cynic, but I never did believe the story from day one. My take is that Bin Ladin is still alive or if he s dead, he did not die by our hands or in the way the story is telling us. It is a total fabrication by Obama just to score points. If I may add to that, the deaths of Seal Team 6 and no pictures or other evidence makes me even more suspect. Then again, if there was a gene for cynicism, my family has it and it is even a requirement. B-)

[Nowhere Man]

We’re so far down The Rabbit Hole, that I don’t think we’ll ever recover this Nation.

We need to just default, declare bankruptcy or just have some sort of jubilee rendering the debts null and void, reboot and bring the country back on a Constitutional course. When you talk about debts so high that if every dollar is a mile, you would have a number so huge that it would take you all the way to the star Sirius and back (or almost a one way trip to Vega), you might as well just hang it up. Put it another way, our jet is so out of control, all you can do is punch out and hit the silk.

[Carriage Hill]

“...default, declare bankruptcy...”

Can we actually do that, or is the US “too big to (be allowed to) fail”?

[Carriage Hill]

We’re in so deep now, and 94.3% of Americans have no idea of how bad it is. They just get spoon-fed the LSM crap on TV every night about the “recovery” and “bad oil companies” etc etc etc. Their 0bummer-induced rose-colored glasses, are about to turn brown, when TSHTF.

[Carriage Hill]

http://www.nypost.com/p/news/opinion/opedcolumnists/how_us_debt_risks_dollar_doomsday_j8dxHSYWUa22QpSN7ttOIL#ixzz1tc4wj3UE

[GOPJ]

We have Obama to thank for this...

[2001convSVT]

101.5% of GDP, surly the Feds can do better than that. Just wait, 125%, 150% and 200% are just around the bend for this run away spending locomotive!

[EGPWS]

Nov.7th will be too late.

That was the point in my post, we are screwed no matter who wins...

They are both liberal socialist hacks and it's an insult to conservatives that the GOP supported such a liberal hack for the GOP candidate for POTUS, although Romney doesn't stand a chance against the better multifaced liar anyway.

[1010RD]

All these photos are staged. Even with that Obama still looks like an empty suit. Everyone’s seen that look on Clinton’s face before. It’s the “Homer Simpson pretend to be listening while thinking about something else” face.

Obama’s mastered it though.

[Nowhere Man]

Can we actually do that, or is the US “too big to (be allowed to) fail”?

Unfortunately, we might not have any other option. In reality, no one is "too big to fail."