These numbers are actual. I'm telling the truth, the whole truth, and nothing but the truth. Fact checkers requested and welcome. I think it's high time this information gets out there.
The federal debt grew by $1,249,380,205,181.94 - in less than the last 9 months leading up to mid-July 2016 when these numbers were researched. By the way, that first number you see represents the trillion place holder. As in $1.24 trillion. As a country, it seems, we went $1.24 trillion more in debt in just under 9 months.
A little quick math reveals that over those roughly 260 days the debt grew by a little over $4.8 billion dollars average - per day.
Does this concern anyone?
We are literally spending $4.8b per day more than we have. But wait, as of 7/19/16 that number is actually $11 billion per day!! Huh? Read on.
At $4.8 billion per day:
That's over $200 million per hour.
That's $3.3 million - per minute.
That's $55,000 per second.
Now it gets scarier. I said average, remember. That was for the past nine months on average. But it's growing in proportion by leaps and bounds:
- If you take the debt increase over the last 8 years you'll see it averages out to an increase of about $3.4 billion per day.
- The last 9 months saw an average debt increase of $4.8 billion per day.
- Now parse it down even further - from close of biz 7/18 to close of biz 7/19 the federal debt increased just over $11 billion. In one day.
8 years ago we averaged a debt increase of $3.4 billion per day - today it's better than $11 billion per day. Scary.
$11 billion per day is $458 million per hour.
That's $7.6 million per minute.
That's $127,000 per second.
And the rate is increasing. It is truly spinning out of control.
Yes, the numbers are real and easily accessible.
http://www.usdebtclock.org/ is a great (if you can call it great) site if you've never seen it.
Now the Fed is enjoying an all time high for income. We are bringing in more than ever. We do not have an income problem. We have a spending problem. We need entitlement reform. We need a budget. We need to stop giving money away. We need to stop blaming. We need to stop wasting. We need accountability. We need change.
Oh, and in case you are of the opinion that "taxing the rich" will fix it - Trump (for example, but pick any multi billionaire worth $11b or less) could liquidate everything, literally give 100% of everything he owns to the fed - and it wouldn't even cover one day's increase. You could tax the 1% richest 100% and it still wouldn't touch it.
Oh, by the way, 8 years ago we were $10 trillion in debt. The federal debt will have more than doubled in the last 8 years. Do the math.
To be clear - and lest you think this is merely a fist bump to "the conservatives" - the federal debt doubled under George Bush as well (From roughly $5t to roughly $10t).
This message brought to you by the council on common sense . . .
This number is so big it means nothing to most people. It's just a credit card maxed out that the country will just look to keep growing thinking it will never affect them. Nice article and I will follow.
There probably isn't one simple answer to this problem. Likely there needs to be a re-evaluation of the government budget among other drastic measures. Unfortunately, it's unlikely that'll happen due to corporate interests.