Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

I had been waiting to make a post when the National Debt rolled past 18 trillion dollars, in November, I made a mental calculation that it would cross over somewhere around December 20th. Wow what a jump! This was the only story anyone wrote about it, and it was on one of my favorite websites:

Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.

It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the "benefit" of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.

And now we wait for the US to become....
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