The US National Debt has increased by $505,581,392,352 since our last update in September 2011. Another quarter and we have dropped another $500 billion in the hole.
National Debt as of 1/13/2012
Our nation’s leaders will soon be entering into the same conversation that they had just a few short months ago – because we are about to hit the debt limit AGAIN!
As was known by EVERYONE at the time we increased the debt limit, issuing the equivalent of another credit card to pay the bills of another credit card did not work.
My question is this: At what point in time will this type of spending stop?