US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP, Only $14 Billion From Breaching Debt Ceiling
America has closed the books on 2011 with debt at an all time record $15,222,940,045,451.09. The US debt to GDP is now officially over 100%, or 100.3% to be specific, a fact which the US government decided to delay exposing until the very end of the calendar year.
The real kicker…. The U.S. borrows .40 of every dollar it spends. With NO increased spending the debt is estimated to rise to 24 Trillion dollars by 2015. We are headed for a Debt/GDP of 135% by 2015. That’s only 3 years away people!!!
Does anyone have ANY idea how bad that is?
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