Attention Ladies & Gentlemen

Today is a historic day!

Wednesday, October 01, 2008

National Debt Exceeds $10 Trillion

by CalculatedRisk at http://calculatedrisk.blogspot.com/2008/10/national-debt-exceeds-10-trillion.html

As of Sept 30th, the debt was $10,024,724,896,912.49.

The surge in the National Debt over the last two weeks has been because of the Supplementary Financing Program (SFP) with the Treasury raising cash for the Fed's liquidity initiatives (announced a couple of weeks ago).

Even though this rapid increase in the debt is being driven by the Fed's liquidity initiatives (and should be paid back), crossing $10 trillion is still quite an achievement

well thats nothing,... wait and see it get way worse before it gets better! and the boston tea party was thrown over 12 percent tax... please forgive us thomas jefferson. we lack the courage today you showed us yesterday!