As of close of business Friday, Sept 28, the national debt was $16.066 trillion, up $50 billion from the end of August, and $211 bn from the end of June. The last time the quarterly increase was this low was the 2nd quarter of 2011 (when it only increased $73 bn), but that doesn't count because it was during the debt crisis. Before that, in the 2nd quarter of 2008, the debt increased only $55 bn.
What is amazing is that more than two years ago I projected that the number on 9/30/12 would be $16.103 trillion. This is like hitting a hole-in-on on the golf course. That forecast also shows the debt next year at $17.330, so we will see.
I'm not going to do any more forecasts until the results of the fiscal cliff are known and until the debt rises above the sustainability line. This is now the 5th straight month that the debt is below the sustainability line, so hopefully this trend will continue.
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Update: The national debt jumped $93 billion overnight, so as of close of business 10/1 it is at $16.159 trillion. The sustainability amount is $95 billion ($16.066 x .0059), so there is only $2 billion to spare for the whole month.
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