December 31, 2011

Economy

A Different Kind of Clock, Heading Toward a Different Kind of Midnight

Justin Katz

I'm cleaning out my bookmarks for the first time in about seven years, and as we approach the change of the clock from one year to the next, I thought it appropriate to direct your attention to the U.S. Debt Clock.

At this moment, the national debt is $15.2 trillion, personal debt is $16.0 trillion, and the total U.S. debt — including household, business, state and local governments, financial institutions, and the federal government — stands at $56.4 trillion.

Happy New Year! Another day older and deeper in debt.

7:20 PM | TrackBack (0)
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We Jews have a saying that is customary at the conclusion of many of our holiday gatherings: "Next year in Jerusalem."

Next year in Virginia, Justin, Marc, Monique, Patrick, Andrew, and all of my commenter friends here, who through lack of will or means, find themselves still in Rhode Island this New Year's Eve. My family's thoughts and prayers are for all of us to be reunited in a land of freedom and opportunity in 2012.

Posted by: Dan at December 31, 2011 8:28 PM

The more important figure is the Debt-GDP ratio of over 100% now and over 130% projected for 2016 under the skunk's spending plans.
No country has ever had sustained economic growth with that ratio permanently over 100%.
None.

Posted by: Tommy Cranston at January 1, 2012 10:13 AM
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