US National Debt

[Gumping]

This from BBC News

The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure.

The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign could not display the full amount.

The board was erected to highlight the $2.7 trillion level of debt in 1989.

The clock's owners say two more zeros will be added, allowing the clock to record a quadrillion dollars of debt.

Douglas Durst, son of the late Seymour Durst - the clock's inventor - hopes to replace the Manhattan clock with its lengthier replacement early next year.

For the time being, the Times Square counter's electronic dollar sign has been replaced with the extra digit required.

For its part, the digital dollar symbol has been supplanted by a cheaper version - perhaps a sign of the times for the American economy.

Some economists believe the $700bn bail-out plan for ailing US financial institutions could send the national debt level to $11 trillion.

Puts my mortgage into perspective anyway

 

[£10kLoser]

What about their International debt, which is said to exceed $50 trillion? Remarkable really, when the crooks either don't pay for a lot of stuff or get it at 10% (like oil).

 

[yacarob1]

Not only is Bush's America morally bankrupt it is also financially bankrupt.

Any money that the US Government comes up with to rescue the banks, insurance companies whatever.. has to be borrowed money.

What a f**king disaster.

There aren't enough zeroes in existence to describe Bush and his crooked pals, let alone the US National debt.

 

[JTrader]

The actual numbers - billion, trillion, quadrillion, quintillion, sextillion, septillion, octillion, nonillion, decillion, uundecillion etc. are not that important - due to the fact that money in Modern Fiat currencies is an infinate rersource that banks create & central banks print off out of thin air. It is not tied to an underlying asset like gold.

Million, Billion, Trillion...

Fiat Money Systems