Treasury Dept Adds $25 Billion to National Debt Over Thanksgiving Holiday

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Posted by Ed Brown on Nov 27, 2012 in Featured, Federal, Washington, D.C. | 0 comments

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To be exact the actual figure is $24,327,048,384.38 tipping the national debt to a new record of $16.3 trillion – $6 trillion of which is the direct result of the Obama administrations mysterious and legislatively uncontested spending habits. When he took office in 2009 the debt stood at just over $10 trillion but just $6 trillion of that – at the time – was Debt Held by the Public with around $4 trillion attributed to Intragovernmental Holdings. But over the past 46 months the debt held by the public has nearly doubled to an astounding $11.7 trillion, while the intragovernmental has remained in the $4 trillion range.

What is the Debt Held by the Public? The Debt Held by the Public is all federal debt held by individuals, corporations, state or local governments, foreign governments, and other entities outside the United States Government less Federal Financing Bank securities. Types of securities held by the public include, but are not limited to, Treasury Bills, Notes, Bonds, TIPS, United States Savings Bonds, and State and Local Government Series securities.

What are Intragovernmental Holdings? Intragovernmental Holdings are Government Account Series securities held by Government trust funds, revolving funds, and special funds; and Federal Financing Bank securities. A small amount of marketable securities are held by government accounts.

This Thanksgiving surprise was in line with that financial commonality with the “public” taking on 90% of the burden with $22 billion of the increase being tacked onto the public debt, while only $3 billion allocated to intragovernmental.

To give you a good example of exactly how much a trillion is, consider this exercise in arithmetic: 1 million seconds is equal to about 11 and a half days. 1 billion seconds is equal to roughly 32 years. 1 TRILLION seconds amounts to just a tad bit more than —– 32,000,000 years.

25 Billion bucks is – in all actuality – 25 thousand millions or a million twenty five thousand times. And to think that Americans are getting all worked up about a little $425 million dollar powerball lottery – while the goons in Washington are writing checks for $25 Billion a pop while asking the goon to their left to pass the cranberry sauce. Treasonous spending.

You can check the national debt anytime at www.treasurydirect.gov and use their date filter to search the time periods in question.

The following is a screenshot I just took from that website which shows a near $25 billion increase by the Treasury Department at some point between the 21st and the 23rd which was Thanksgiving day. The site claims to show minute by minute fluctuations but it appears to be giving delayed info and it’s being reported that the increase took place on the 26th, the Friday following the holiday:

click for larger

Regardless of when it happened, the Federal government just added another backbreaking increase to the American taxpayer – many of whom will eventually wind up being our children and grandchildren. And this president and his democrat and now some republican cohorts want to increase taxes? Why in the hell would we reward thieves with more of our hard earned dollars to waste on – God only knows what? Preposterous!

If Americans continue to allow this financial irresponsibility we will be directly to blame for our children and grands and grand-grands – OUR PEOPLE – living in cardboard boxes and digging through the garbage of future dictators to feed themselves.

Please share – I’m sure the mainstream news outlets won’t touch this story with a ten foot pole.