The US Treasury has some terribly unsettling numbers for us. As recently reported, by the third quarter’s end of fiscal 2012, the federal government’s debt had already exceeded $1 trillion. This gave it the dubious distinction of being the fifth straight year when the government has increased its debt by more than a trillion dollars.
Before fiscal 2008, the government had never increased its debt by this amount. Since 2008, however, they have increased their debt by at least a trillion dollars each fiscal year.
The federal government’s debt when they closed the 2011 fiscal year on September 20, 2011 was $14,790,340,328,557.15 By June 29, 2012 the debt was already at $15,856,367,214,324.44.
In less than five years, the total debt has increased over $6 trillion dollars, moving from at $9,007,653,372,262.48 on September 20th of 2007 to $15,874,365,457,260.40 a few days ago on July 19th, 2012.
One tongue-in-cheek insider recently suggested putting everything up in America for sale. As he said on suite101.com, “”Really, it’s the quickest solution to our debt crisis, and it wouldn’t be that hard,” explained the insider. “Put up a bunch of signs, slash the prices and get ’em gone.” Asked for clarification, he said, “The Space Needle in Seattle? That thing would sell to Singer Sewing Company faster than dog food at Wal-Mart. The Alamo? Yo quiero Taco Bell. Heck, we’ve got all those rectangular states in the middle of the country; why not sell a few of them while we’re at it? Nebraska has what, a billion ears of corn and a couple of thousand people living there. Imagine if General Mills bought the state and re-named it Green Giant? They sell canned corn goods to Joe and Jane Lunchpail every day of the week and twice on Sunday. Talk about a bounty of marketing opportunities. Speaking of Bounty, how about Proctor & Gamble pulling out their checkbook, purchasing Kansas and re-naming it after their successful paper towel product?” He chuckled, and then quipped: “They could be called The Quicker Picker-Upper state.””
Here is another perspective on the National debt. Certainly, something needs to be done.