US Debt May Soar By $2 Trillion In 2009

With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world's appetite for financing U.S. government spending.

For now, investors are frantically stuffing money into the relative safety of the U.S. Treasury, which has come to serve as the world's mattress in troubled times. Interest rates on Treasury bills have plummeted to historic lows, with some short-term investors literally giving the government money for free.

Read the whole story here.

Comments

[blurredtruth]

Considering we are moving from one socialist to another with bail outs and companies acting like children looking for them...no surprise. The communist expired work plans to rehab the infrastructure will just add to it.

[Hirnlego]

Bush has borrowed more than all previous 42 Presidents. Combined.

http://digg.com/business_finance/Bush_has_borrowed_more_than_all_previous_42_Presidents_Combined

[JohnGault44]

Such a joke.

The average American simply is clueless.

If you want real improvement, work to abolish the Federal Reserve (a misnomer if ever there has been one).

[HappyIdiot2008]

What a waste of energy.

[instagladiator]

As usual, your leaders (including your new incoming group) are merely treating the problem with another bandaid fix instead of focusing on the cause and applying a cure.

[JohnGault44]

Cut them some slack;
they have their marching orders,

[jnratliff]

Whenever you see a ruined economy and millions of wounded, dead and injured people remember to thank a republican for being so stupid!

[Chopin]

Blind and Stupid is when one doesn't know any better.
Malignant and Selfish is when one knows and doesn't care.

It's debatable whether the damage done to the nation and the people by the repubs under GWB's chickenhawk wings in the last 8 years, and under recent repub administrations for much longer, fall in the BS variety of public menace, or more chillingly in the M&S variety of public enemy.

Let the intelligent readers decide for themselves.

[crablover]

Last one out of America, please turn off the light. Stock up on food and a m m o. You're going to need it.

[HappyIdiot2008]

Not likely. I guess I won't be seein' ya in the future.

[senorlou]

President Bush laid a huge poop stained mess for Obama to clean up. I'm sure he laid traps everywhere, made sure the crisis would explode the second he gets out of office. Regardless of what he does, Bush will be hated world-wide for generations. The only leader I can think of who the world has held more contempt for than Bush would have to be the supremely odious Adolf Hitler. I can't think of any others that all human kind has held more contempt for. Adolf still wins the prize, of course, but the more damage Bush causes, the more contempt he receives. I wonder if he knows or cares how hated he is?

[Chopin]

Blind and Stupid? or
Malignant and Selfish?
Let the philosophers and historians among us speak out.

[collprof]

This is the result of what faking an economy of no taxes against anyone making more than 100K has created for America. Starting with Reagantrickle and continuing through both Bushes with absolutely no responsibility taken by anyone..what did you expect? Now we need a good dose of socialism to fix all the problems created by GOP. It will take a decade to undo all that has been wrecked by irresponsible neo-cons.

Now go tell Rush what a bad thing we've all just said...Or better still..go to Alaska and worship you're next candidate for president.

[myangeldog1]

In honor of such a special lady having been chosen out of countless people to volunteer at such a grand and historic inauguration.

I am so very proud of you Babs....you are one in a million!!!!!

In celebration.....one of my absolutely favorite songs for you....!!!!!!!!!

http://www.youtube.com/watch?v=3vx3ndjsalw

[inluvwkeitholbermann]

tiger lily is one of my favorite cd's of all time......

[myangeldog1]

Ditto!

[BabsfromKansas]

Thank you! that is a beautiful song - reminds me of my daughter.

[BigHeadTodd]

What happens when it hits a googol? And will the public have to Google googol to understand how many numerals that encompasses?

Thank you Bush-Cheney (Jan. 2001- Jan. 2009; R.I.P.)

[Marlyn]

Quintillion is next, after trillion.

[waverly]

My favorite in tracking our debt....

http://zfacts.com/p/461.html

[myangeldog1]

t r i l l i o n

http://www.youtube.com/watch?v=6QQbRXaGsjM

[BabsfromKansas]

I just got my e-mail from the Presidential Inaugural Committee.

i have been chosen as a volunteer!!!!

[myangeldog1]

Babs...They couldn't have chosen anybody better!!!!!! I am SO happy for you!!! YOU GO GIRL!!!! Congratulations!!!!!

[HappyIdiot2008]

You deserve it Babs! Thanks! Keep us informed please!?

[inluvwkeitholbermann]

I just got my e-mail, too.........

I have been chosen to donate $100 or more........

[PhilipTaylor]

That is quit an inheritance Bush-Cheney left America!

Thanks for the 150% increase in our National DEBT Republicans!

Your overall management of America ranks as the worst in HISTORY!

[rogerse]

Deficits are good for the economy.

[vjoseph]

When they help jumpstart the economy, yes

[opusprime]

And moonshine is good for your liver!

Smoking cures arthritis.

And I heard drinking your own urine makes your breath smell better.

So have a glass of pee on me.

[myangeldog1]

ROFLMAO!!!

[rogerse]

Ok so I guess deficit spending is bad.

[Kiba]

That position is too simplistic. When the economy is booming, the budget should be balanced, or overspending should not exceed a few percent of GDP and should be spent only on investment that provides long term value.

When the economy is in a slump, deficit spending is necessary in order to idle up the engine of the economy and keep it from stalling out. The only provision is that the money should be spent wisely, invested in strengthening manufacturing, repairing and upgrading infrastructure, achieving energy independence, that sort of thing.

[Hirnlego]

You're sarcastic right?