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US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP, $14 Billion From Breaching Debt Ceiling

Posted By admin On January 4, 2012 @ 3:51 am In Money Watch | Comments Disabled

Zero Hedge [1]
January 4, 2012

While not news to Zero Hedge readers who knew about the final debt settlement of US debt about10 days ahead of schedule [2], it is now official: according to the US Treasury [3], America has closed the books on 2011 with debt at an all time record $15,222,940,045,451.09. And, as was observed here first in all of the press, US debt to GDP [4]is now officially over 100%, or 100.3% to be specific, a fact which the US government decided to delay exposing until the very end of the calendar year. We wonder, rhetorically, just how prominent of a talking point this historic event will be in any upcoming GOP primary debates. And yes, technically this number is greater than the debt ceiling but it excludes various accounting gimmicks. When accounting for those, the US has a debt ceiling buffer of… $14 billion [5], or one third the size of a typical bond auction.

US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP, $14 Billion From Breaching Debt Ceiling  US%20Debt%201.3 [3]

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URL to article: http://www.prisonplanet.com/us-closes-2011-with-record-15-22-trillion-in-debt-officially-at-100-3-debtgdp-14-billion-from-breaching-debt-ceiling.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/us-closes-2011-record-1522-trillion-debt-officially-1003-debtgdp

[2] 10 days ahead of schedule: http://www.zerohedge.com/news/its-official-us-debtgdp-passes-100

[3] US Treasury: http://www.savingsbonds.gov/NP/BPDLogin?application=np

[4] GDP : http://www.bea.gov/newsreleases/national/gdp/2011/pdf/gdp3q11_3rd.pdf

[5] 14 billion: https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=11123001.pdf

[6] Total US Debt Hits $14.195 Trillion, $99 Billion Away From Debt Ceiling; Treasury Revises Breach Date To As Soon As April 15: http://www.prisonplanet.com/total-us-debt-hits-14-195-trillion-99-billion-away-from-debt-ceiling-treasury-revises-breach-date-to-as-soon-as-april-15.html

[7] Debt Ceiling Tragicomedy Resumes: On Today’s Symbolic, And Doomed, $2.4 Trillion Debt Ceiling Vote: http://www.prisonplanet.com/debt-ceiling-tragicomedy-resumes-on-todays-symbolic-and-doomed-2-4-trillion-debt-ceiling-vote.html

[8] As Adjusted Monetary Base Rises By Half A Trillion In 2011, Treasury Runs Out Of Debt Ceiling Delay Measures: http://www.prisonplanet.com/as-adjusted-monetary-base-rises-by-half-a-trillion-in-2011-treasury-runs-out-of-debt-ceiling-delay-measures.html

[9] US Debt/GDP Hits Post WW2 High 99.5% Following $55 Billion Overnight Debt Increase: Total Debt Now Over $15.1 Trillion: http://www.prisonplanet.com/us-debtgdp-hits-post-ww2-high-99-5-following-55-billion-overnight-debt-increase-total-debt-now-over-15-1-trillion.html

[10] US Adds $120 Billion In Debt Since Debt Ceiling Hike On Friday, $310 Billion More On Deck In Next Two Months: http://www.prisonplanet.com/us-adds-120-billion-in-debt-since-debt-ceiling-hike-on-friday-310-billion-more-on-deck-in-next-two-months.html

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