Wednesday, August 29, 2012

Sweet 16: National debt crosses $16 trillion two months before election

One of the fundamentals of the rich is to invest using other people's money (OPP).  However, when the government does it using the taxes of its citizens, and borrowing of its future, it sure ain't about the accumulation of wealth and capital.

On Aug. 28, the United States crossed over the $16 trillion mark in debt, and marks the biggest four year rise in debt obligations in America's history.  And unfortunately for the American people, there is very little to show for it beyond inflation and little men hiding behind offices thinking they now how to spend your money.

$35 billion in unreconciled bond sales - Aug 28

Added to:

= $16 Trillion

Charts courtesy of Zerohedge

November 16, 2011 was a historic date: that's when the US officially surpassed $15 trillion in debt for the first time since World War 2. We celebrated it by cheering $15,OOO,OOO,OOO,OOOBAMA. Today, August 28, 2012, is when we can unofficially celebrate again, because 286 days after the last major milestone was surpassed with disturbing ease, total US debt following today's $35 billion auction of 2 Year bonds is, well, in a word: $16,OOO,OOO,OOO,OOOBAMA! - Zerohedge

Sweet 16... perhaps this was the hope and change Obama was really talking about.  The financial destuction of a once great nation.


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