Friday, 2 December 2011

What about the $ US public debt ?

It has been less than a month since the US public exceeded $15 trillion (a scale pretty hard to imagine without the help of an explanatory diagram). In only 2 short weeks, the figure has been boosted with an additional 100 billion and is not hovering around $15.18 trillion. This amounts to almost 99.5% of the 2010 US Gross Domestic Product and I`m expecting it to reach triple digits by the end of the year. What do you expect: the difference is a measly $70 billion.

Debt Ceiling Circus

Pretty soon we are going to witness again the political circus which has the name of Debt Ceiling political debate. The current figure of $15.11 trillion is so close to the agreed debt ceiling of $15.194 trillion (the "compromise" was reached on the 31st of July and it came into act on the 2nd of August after a crisis which ultimately led to the downgrade of US debt from triple-A to AA+ by S&P rating agency) that the circus may come in town early this year.

Greece, Italy, step aside bitches, guess who's the new sheriff in Debtown:

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