The total debt topped $18 trillion for the first time on 11/27/14, but this is probably a bigger milestone because it involves real cash and not just a bookkeeping entry. The Public Debt exceeded $12 trillion on 10/17/2013. It should top $14 trillion on about 4/1/2016, about a month after the total national debt exceeds $19 trillion.
The national debt will never be paid back. Instead it is just part of the money supply.
No comments:
Post a Comment