DNC Date Selection Fail!

Niveuspuer · Sep 4, 2012

The U.S. national debt is set to pass an inconvenient bench mark at the worst possible time for Democrats.

On Tuesday, the first day of the Democratic National Convention, the national debt will likely surpass $16 trillion, according to FoxNews.com. The Treasury Department's tool for counting the national debt is still paused from its Labor Day break, but, if FoxNews.com's estimate is correct, the $16 trillion club should open around when Democrats take the stage in Charlotte.

UPDATE: The national debt officially surpassed $16 trillion on Tuesday afternoon, according to the Treasury Department.

Of course, the national debt has been a flashpoint for controversy during the election season. Last week, Republicans featured two clocks counting the national debt during their convention. And Republican presidential nominee Mitt Romney and running mate Paul Ryan have touted their budget proposals as fiscally responsible means to a smaller deficit.

In addition, Koch-sponsored conservative group Americans for Prosperity spent millions of dollars on ads attacking President Obama, one of which targeted his record on the national debt, according to CNN.

The national debt has soared during Obama's presidency, increasing more in his first three years and two months on the job than during George W. Bush's eight-year presidency, according to CBS News. Still, Obama says he's working to slash the deficit. His budget proposal predicts that the debt will decline this year and drop by somewhere between $500 billion and $700 billion in the next 10 years.
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National Debt Likely To Surpass $16 Trillion During The DNC

Don't you just love it when things come together like this?

Edit - Fox New hyperlinks are unintentional and apparently unavoidable.

NasaJoe · Sep 4, 2012

In b4 blame it on Bush.

Megacosm · Sep 4, 2012

Sick the debt will decrease around $500 billion in the next 10 years! What about the other $15.5 trillion? Ahhh fuck it. USA! USA! USA!

NasaJoe · Sep 4, 2012

Guest Post: Some Clear Thinking On 'The Debt' | ZeroHedge

At an average interest rate of 2.130%, Uncle Sam will shuffle $340 billion out the door just in interest payments this year... and it's a number that's only going up. To put it in context, China owns so much US debt that the INTEREST INCOME they receive from the Treasury Department is nearly enough to fund their entire military budget.
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NasaJoe · Sep 4, 2012

U.S. Debt Now $136,260 Per Household

(CNSNews.com) -The U.S. government debt, which topped $16 trillion for the first time at the close of business on Friday, now equals approximately $136,260 for every household in the country.
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Bluntzilla420 · Sep 4, 2012

"Debt Shmet"

- Dems and Republicans

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