No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

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Bo(eh)ned Again – Debt Edition

by @ 22:26 on January 11, 2012. Filed under Budget Chop, Economy Held Hostage, Politics - National.

Tina Korbe had her innocence robbed when she discovered a CNSNews article on just how much debt has been added since the first continuing resolution was passed by the present Congress on March 4, 2011. Allow me to throw a few numbers out there (actually, more-or-less repeating a comment I left on the Hot Air thread):

  • $1,680,817,192,540.69 - The average 52-week debt increase between 1/19/2010 (actually extending back to 1/20/2009 and Obama’s inauguration) and 3/4/2011 (the first CR from the current Congress).
  • $1,293,934,755,020.23 - The average 52-week debt increase between 3/7/2011 (actually extending back to 3/8/2010 because it hasn’t been 12 months) and yesterday.
  • $1,045,531,781,579.60 - The lowest 52-week debt increase of the Obama administration, between 8/2/2010 and 8/1/2011. Not coincidentally, 8/1/2011 was the last full day of the several-month-long debt-ceiling fight, during which the federal government was pretty much unable to borrow additional money for several months.
  • $1,216,937,631,311.90 - The latest 52-week debt increase, between 1/11/2011 and 1/10/2012 (the last date debt data was availalbe).
  • $769,700,000,000.00 - The record yearly increase in nominal (current-dollar) gross domestic product, in 2005.
  • $830,400,000,000.00 - The record seasonally-adusted-and-annualized increase in quarterly-reported GDP, between the second quarter of 2005 and the second quater of 2006.
  • $570,000,000,000.00-$600,000,000,000.00 - The expected increase in nominal GDP for 2011.

Why, it’s “wonderful” news that, instead of increasing debt at nearly 2 3/4 times the growth of GDP, we’re “only” increasing it at just over twice the growth of GDP. As Monty over on the daily DOOM threads over at Ace of Spades HQ would say, “Welcome the newest senior member of the Loyal Order of the Terminally Boned.”

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