$20 Trillion in Debt!

Finally, $20 trillion in debt!

The actual number is $20.162 trillion.  The US first surpassed the $19 trillion mark on 1/28/16, so this took about 19 months.  Many moons ago, I predicted that this would be a "junior day of reckoning", and I predicted that the $20 trillion mark would be breached on 12/31/2015.  So this took almost 2 years longer that I had expected.

I predict that it will take about one year, until about 9/30/2018, to get to $21 trillion.

Why are we celebrating debt?  Because it also represents wealth to the holders of it.  And this debt is created out of thin air and never has to be paid back and it can be increased to infinity!  (What could go wrong with this plan?)

This is a huge psychological barrier that we have crossed.  I don't think anyone, not even Paul Ryan, is now expecting it to be paid back.

How long did it get from $10 billion to $20 billion?  It first crossed $10 trillion on 9/30/2008, in the middle of the financial crisis.  So, 9 years.  When will we get to $40 trillion?  If the trend continues, about 9/30/2026.