We shall leave this world as foolish and as wicked as we found it when we arrived.

- Voltaire

The Tipping Point Exists

There are those with no understanding of economics and/or history who believe that government debt can increase without end and there will no adverse impact on the economy. Others understand there is a tipping point.

The $11,976,279,000,000 in U.S. government debt held by the public on Sept. 30, 2013 was $5,668,968,000,000 more than the $6,307,311,000,000 in debt held by the public on Obama’s first inauguration day.

That is an increase of 89.879 percent—or approximately 90 percent.

Keep increasing at this rate and we will all see the tipping point...soon.

posted at 23:17:11 on 10/02/13 by clearpolitics - Category: Economics - [Permalink]

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The Gross National Debt