Wednesday, November 18, 2009

National Debt Now Over $12 Trillion

If there were any doubts that government spending is totally out of control, and I would hope there were not any, the national debt has now topped $12 trillion. Your equally divided share of that is just under $39 thousand. The debt level is not stopping their, the current record deficit spending promise to push the debt levels to even new highs.

"It's another record-high for the U.S. National Debt which today topped the $12-trillion mark. Divided evenly among the U.S. population, it amounts to $38,974.34 for every man, woman and child.

Technically, the debt hit the new high yesterday, but it was posted on the Treasury Department website just after 3:00 p.m. ET today. The exact calculation of the debt is a 16-digit tongue-twister and red-ink tsunami: $12,031,299,186,290.07

This latest milestone in the ever-rising journey of the National Debt comes less than eight months after it hit $11 trillion for the first time. The latest high-point is not unexpected, considering the federal deficit for the just-ended 2009 fiscal year hit an all-time high at $1.42-trillion – more than triple the previous year's record high.

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