Apparently the national debt goes up 1,700,000,000.00 every 24 Hrs. I am pretty sure it is much more than that because I am a firm contributor. My student loans, unpaid doctor bills, hell even some unpaid utilities. When I signed a 2yr contract with sprint and got my iPhone for $45.00 instead of the $750.00 they should be charging. I am only one person! Can you imagine what four or five of me could do? How about a nation! Well according to the U.S Department of Treasury its 16 trillion and growing. U.S. National Debt Clock : Real Time.
What is the National Debt?
The term national debt refers to direct liabilities of the United States Government. There are several different concepts of debt that are at various times used to refer to the national debt:
•Public debt is defined as public debt securities issued by the U.S. Treasury. U. S. Treasury securities primarily consist of marketable Treasury securities (i.e., bills, notes and bonds), savings bonds and special securities issued to state and local governments. A portion is debt held by the public and a portion is debt held by government accounts.
•Debt held by the public excludes the portion of the debt that is held by government accounts.
•Gross federal debt is made up of public debt securities and a small amount of securities issued by government agencies.
Debt held by the public is the most meaningful of these concepts and measures the cumulative amount outstanding that the government has borrowed to finance deficits.
- World’s First “Trillionaire” Offers to Pay Down U.S. National Debt (heritage.org)
- Social Security and Medicare’s impact on the national debt = ZERO! (lloydlofthouse.org)
- $17 Trillion U.S. National Debt? Try $211 Trillion (maxkeiser.com)
- Fed-chief pick means Obama to keep printing cash (mobile.wnd.com)
- U.S. National Debt Clock October 2013 (rinf.com)