Endless Federal Debt
July 23, 2009
The United States Treasury announced today that they intend to sell a record $115,000,000,000.00 in bonds to prop up and pay for multiple bailout programs intended to reverse our country's economic problems and fund expanding government.
Putting this amount of debt (just one week of bond sales) into perspective, around the world 143 countries have a smaller Gross Domestic Product than what our government is bonding for next week. As an example, the country of Iraq has a national Gross Domestic Product of $93,800,000,000.00.
Again I ask, "Have you had enough yet."
U.S. 10-Year Note Falls Most in 7 Weeks as Record Supply Looms, Bloomberg.com