From Zero Hedge,
Too sad for commentary, but here is some math: total US debt has increased by 41.5%, or $4.4 trillion, from $10,626,877,048,913 on January 20, to $15,033,607,255,920, under Obama as president.
(as a reminder the most recently updated debt ceiling is $15.194 trillion)
Some sectors think that the growing US debt dynamic, which has now gone past 100% of the GDP ($14.582 trillion in 2010), won’t pose as a major concern since US debt has been underwritten on their own currency, the US dollar, which means the US can simply monetize her own debts.
Yet as author Adam Fergusson recently said, in citing his experience with the Weimar Germany, this would tantamount to playing with fire.
The unwieldy US debt dynamic is like a ticking time bomb.
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