We interrupt our regularly scheduled blog post which wasn't written yet any way to bring you this.
Our national debt has become so large that a new calculator that can handle all 16 digits was invented. The "Big Red" calculator displays 16 digits. That's enough to show all the numbers in the national debt, which totaled nearly $11.8 trillion – or $11,766,564,205,70 at the start of September, yes this month.
The national debt now has it's own facebook page. It is a fan page.
It is hard to imagine that much money, or even a number that is so huge and that is why a man by the name of Matt Miles took the time to invent this calculator. By the time this post goes live this number won't be big enough. I hope the government is using computers instead of calculators but you never know.
Who on earth would be a “fan” of the national debt???
I don’t think anyone is a fan of it I think they are fans of the page.
There is a difference.
And here they thought new inventions were falling to the wayside.
Well, the current administration sure brought us change, quadrupling the deficit.
And now there is talk of extending the credit.
http://www.calculatedriskblog.com/2009/09/streitfeld-housing-tax-credit-debate.html
Sigh.
Why not just have the government buy us all a house with debt financed by the next generation? That is what we are doing now, essentially.
Note the cost per house – it is far more than the $8000 that one might think.
Government intervention may push the market bottom out for a few more years.
The market was over-leveraged. The cure, apparently is more debt.
PB – doesn’t the war factor into this? I understand that there have been some accounting changes and the war is on the books. I have not kept up with it but I think we spend a couple billion a month on it which is a significant amount of money.
huge amount, and sure, someone will make fun of it, someone got hit with it
War expenditures are part of the problem, to be sure, but the massive handouts to the banking sector and the attempts to prop up the economy through “stimulus” are bankrupting us at an even faster rate.
The present administration told us that the stimulus would hold unemployment under 8%. Now we’re nearing 10%.
If a dollar of stimulus money is spent on something that does not increase national productivity (such as NEW infrastructure, factories, etc.), then it is nothing more than borrowing money to bolster consumption.
The US is getting closer to a point where it may need to default on some of it’s debt.