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Dec 22 2011

US Debt to GDP Ratio Officially Passes 100%

It’s official — the ship is going down. As Zero Hedge reported yesterday:

With precisely one year left for the world and all of its inhabitants, at least according to the Mayans, not to mention on the day of the Winter Solstice, it is only fitting that US debt, net of all settlements for all already completed bond auctions, is now at precisely $15,182,756,264,288.80. Why is this relevant? Because the latest annualized US GDP, according to the BEA, was $15,180,900,000.00. Which means that, as of today, total US debt to GDP is 100.012%. Congratulations America: you are now in the triple digit “debt to GDP” club!

(naturally, this is using purely “on the books” data. If one adds the NPV of all US liabilities, and adjusts GDP for such things as today’s housing contraction, then the magical triple digit threshold was breached long, long ago).

This means that our credit rating will be nosediving, and interest rates on our Jupiter-sized debt will correspondingly climb. The communist Chinese military will be putting out gold-plated aircraft carriers with the proceeds.

At this point the only thing that could save America from total ruin would be a balanced budget amendment combined with a low cap on government spending as a percentage of GDP, implemented immediately. Given the irresponsible kleptocrats running the country, we would be better off pinning our hopes on an alien invasion.

sinking_ship
Our near future, compliments of liberal Big Government.

On tips from AC and Byron.

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  • JN

    Do you really think Paul can do more damage to our foreign policy in the next 4 years than Bush, Clinton, Bush, Bush and Obama have done in the last 18+ years?

  • IslandLifer

    Something wicked this way comes.

  • whotothewhat

    Alien invasion it is then…Oh!!! Welcome Our New Overlords!!!

    http://www.youtube.com/watch?v=qk12ALX9fz8&feature=related

  • http://reaganiterepublicanresistance.blogspot.com Reaganite Republican

    Swirling around the rim now

    Just re-elect Obumbles if you’re ready for the Big Flush, America

  • KHarn

    This is what you “progressives” wanted, this was your plan to bring down America and impose communism. Now tell us: when your kind is in charge, how are you going to FIX the problems YOU created?

  • KHarn

    PS: The Myans DON’T have an end of the world prophicy. Why all these idiots are all hot and bothered about it is a mystery; it must be ANOTHER of those internet roumers that got out of hand.

  • Conan

    Guns and ammo and food are the coming currency once the parasites don’t get their welfare checks.

  • Jeff

    “the gods of the copy book headings with terror and slaughter return.”

  • wingmann

    F.U.C.T.

    yes Conan…..lead is a pm in my mind!

  • AC

    Get ready for what is coming.

  • Eric

    The Mayan apocalypse, HA! Why would anyone believe in the apocalypse theory of a people/religion that have been extinct for 500 years? You might as well try and say the Druid had a theory about it when they built stonehenge too.

  • http://themellowjihadi.com/ NavyOne

    More depressing news. Merry Christmas!

  • AC

    The Mayan apocalypse, HA! Why would anyone believe in the apocalypse theory of a people/religion that have been extinct for 500 years? You might as well try and say the Druid had a theory about it when they built stonehenge too.

    Sarcasm.

  • Sam Adams

    Thank God that the house is run by republicans so the democrats have someone to blame.

  • I’m A Lasagna Hog

    I don’t know why anyone believes any “apocalypse theory.” [sic] The notion of the end of the world has been around since people could first formulate the concept of time, and every single person who has ever said anything about the end of the world has been wrong.

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