Tag Archives: national debt

U.S. Debt as a Household Budget

Posted on January 17, 2013 by Les Jones

Worth repeating: Debt ceiling debate in a nutshell … or two * US Tax Revenue. $2,170,000,000,000 Federal Budget. $3,820,000,000,000 Deficit. $1,650,000,000,000 National Debt. $14,271,000,000,000 Recent budget cuts. $38,500,000,000 Now, let’s remove 8 zeroes from the above, and use it as … Continue reading →

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Let’s Say It Again: Normal Interest Rates Would be a Disaster for U.S. Debt

Posted on January 7, 2013 by Les Jones

Zero Hedge - “The Magic Of Compounding” – The Impact Of 1% Change In Rates On Total 2022 US Debt: The bottom line: going from just 2% to 3% interest, will result in total 2022 debt rising from $31.4 trillion to … Continue reading →

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Right-sized Government

Posted on December 19, 2012 by Les Jones

Mark Steyn – Kindly Note the Impending Bankruptcy: My Gallic charmer is on to something. According to the most recent (2009) OECD statistics: government expenditures per person in France, $18,866.00; in the United States, $19,266.00. That’s adjusted for purchasing-power parity, … Continue reading →

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In the Last Year the “Illusion of Prosperity” Has Cost $12,984 per U.S. Household

Posted on May 22, 2012 by Les Jones

$12,984–Increase in Debt Per Household Since First 2011 Bipartisan Spending Deal. In the meanwhile, under these bipartisan spending deals, according to official figures published by the U.S. Treasury, the federal debt has climbed from $14,182,627,184,881.03 to $15,708,753,671,767.64. That is an … Continue reading →

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US Debt to GDP Passes 101%

Posted on February 24, 2012 by Les Jones

Zero Hedge – As US Debt To GDP Passes 101%, The Global Debt Ponzi Enters Its Final Stages Most people still think of China as buying our debt, but China is unloading U.S. debt. The biggest buyer of U.S. debt … Continue reading →

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Good News, America!

Posted on January 26, 2012 by Les Jones

Our government maxed out its credit line, so it raised the limit on its credit card, which we get to repay. Update: America Has A $16.4 Trillion Debt Ceiling

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A look at total public and private debt by country

Posted on November 21, 2011 by Les Jones

Charles Hugh Smith – The World Is Drowning in Debt, and Europe Laces On Concrete Boots: The world’s major economies are drowning in debt–Europe, the U.S., Japan, China. We all know the U.S. has tried to save its drowning economy … Continue reading →

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At least Obama didn’t give S&P the Italian treatment

Posted on August 8, 2011 by Les Jones

Mark Steyn – Mad Debt: [O]ver in Italy, which is (believe it or not) a G7 economy, police raided Moody’s and Standard & Poor’s over allegations that all the meanie things that the rating agencies have been saying about the … Continue reading →

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Interest Rates and the Debt Crisis in Italy and America

Posted on July 12, 2011 by Les Jones

Megan McArdle – Euro in Crisis: Is the Italian Domino Falling? There have been some rumbles about Italy for a while.  Italy’s budget deficits are relatively modest compared to, say, Ireland, but their debt is about 120% of GDP.  The … Continue reading →

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Obama Added More National Debt than Washington Through Reagan

Posted on September 22, 2010 by Les Jones

Christian Science Monitor – Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data: In the first 19 months of the Obama administration, the federal debt held by the … Continue reading →

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“The Most Important Chart of the Century”

Posted on March 24, 2010 by Les Jones

From Nathan’s Economic Edge: This is a very simple chart. It takes the change in GDP and divides it by the change in Debt. What it shows is how much productivity is gained by infusing $1 of debt into our … Continue reading →

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Day after MA special election: Democrats propose $1.9 trillion debt increase

Posted on January 20, 2010 by Les Jones

Ass. Press – Democrats propose $1.9T increase in debt limit: WASHINGTON – Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt … Continue reading →

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