US Debt May Soar By $2 Trillion In 2009

Washington Post:

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: Washington Post

Comments

[vooter]

Hey, everyone: Please DON'T buy gold and silver bullion, so I can get it as cheaply as possible. LOL...than­ks in advance!

[rampage]

Buyinbg gold and silver will prove to be nothign more than a bubble.

[Rumba887]

Unless you have in hand right? Isn't the gold trade is another Ponzi scheme...?

[kellygrrrl]

buy? what is this buy of which you speak?

[mystic]

Two trillion? Well for starters, we could correct that if we arrest Dov Zakheim, the Pentagon comprtoller under Rumsfeld who fled back to Israel with 3 trillion dollars, which many think was for services rendered on 9/11. It has never been accounted for.

[InauguralBall]

Ramstein, Spangdahlem, Aviano, Incirlik

[rampage]

Proof?

[CologneCitizen]

Sorry, we're closed. No need to call back again.

[learnsomething]

I can't believe the Republicans effed up our country so badly. Just criminal if you ask me.

[ElkoJohn]

the rise & fall of the Consumer Empire
RIP

[ohiomark]

Duh......T­he Democrats are running the show. Of course the debt is going to get higher.

This is the reason that conservatives were mad at Bush and the Republicans.

The only people who are "out of touch" in this country are politicans.

[learnsomething]

The conservatives are the ones who voted for Bush, twice, so how can they be mad, they are the ones who caused this destruction, by voting for Bush.

[Seamus]

Amen, learnsomething.

[Hirnlego]

Again, you folks never take any responsibility.

Two main reasons for the MASSIVE debt. Reagan and Dubya:

http://en.wikipedia.org/wiki/File:USDebt.png

[rampage]

You need to add Clinton, Gramm, & McCain

[Name Not In Use]

" ... test the world's appetite for financing U.S. government spending."

I bet O-man goes off the "Fed Standard" and just starts printing currency as the Constitution clearly permits.

[Name Not In Use]

I hear the Treasury is going to stop printing currency.

They're just going to post a PDF on the Treasury web site and say "Download and print as needed."

[Rumba887]

LOL...grea­t post!

[Name Not In Use]

It's going to be much higher than that. I hear Citibank was late on one of their payments on the bailout money. They swear they mailed the check on time but Bernanke says it was late. Now Ben has jacked up their rate to 39.5% on the bailout money and they are paying massive late charges and over limit charges.

[janmarie]

time to bring home all the troops, close some military bases and cut off military to countries. fat chance any of this will happen.

[Edzero]

Good point. We have 1,000 military installations/bases worldwide.

We also spend 54% of the world's war/defense money in 2007.
The next two closest countries spend 5% UK and China.

When did the US voter decide to be the world's police force?

How much of this is done to protect corporate property and
operations? Should the US taxpayer be paying for this?

Time for citizens to become adult and take responsibility for
what is being done "in our name."

[smit9187]

How much of this is done to protect corporate property and
operations? Should the US taxpayer be paying for this?


Great question to ponder!

[ntmessage]

Any news on a "Lock Box" for Social Security?

[GoldersGreenInfiltrator]

The govt is garnishing unpaid debts from new SS recipients while bailing out the big boys with Billions.

And the Sheeple just take it.

[learnsomething]

I am angry about it. I just can't get over the fact that people voted for this destruction, not once but twice.

[GoldersGreenInfiltrator]

Good