Thursday, September 2, 2010

National debt increased by $200 billion in August

On July 30, 2010 the numbers looked like this:
Debt held by Public $8.702T
Intragovernmental $4.535T
Total Public Debt $13.238T

On August 31, 2010 the numbers look like this
Debt held by Public $8.927T
Intragovernmental $4.523T
Total Public Debt $13.450T

That's an increase of $225B in the debt held by the public, and $212B increase in the total debt in just 31 days. I don't think the debt has ever increased more in a month, although Sept 2008 may be an exception. Despite the huge increase, this still can't be considered an emergency yet, since interest rates are so low. But the bridge is out ahead, so picking up speed is not a good thing.

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