CBSNEWS The Federal Government’s flood of red ink hit another high-water mark as the Treasury Department quietly reported today that the National Debt hit $11-trillion for the first time ever.
To be exact, the Debt now stands at $11,033,157,578,669.78. Divide it by the U.S. population and it comes up to over $36,000 in debt for every man, woman and child among us.
My brain just freezes when I see numbers like this. The debt jumped a full $1 trillion since September 30, and based on the budget, by next September 30, it’ll be up to $12.7 trillion. Then throw in this kicker:
The Administration’s four year estimate shows that by the end of September 2012, the Debt will have soared to $16.2-trillion – which amounts to nearly 100% of the projected Gross Domestic Product that year.
There’s only one thing that I see to do about this: sing.