The U.S. debt clock has swept past $18 trillion without so much as a flicker of hesitation.
But what is $18 trillion?
How about figuring it in exotic supercars, like those 253-mph, 1,001-horsepower (and 8 miles per gallon) $1.9 million Bugatti Veyrons?
For the national debt, you get just a handful short of 9.5 million of the cars.
How about air-hours for a major jet like Air Force One, assuming operating costs of about $275,000 per hour?
You’d have to rack up 65 million hours of flight, give or take.
And at those burger joints with the tiny $1 burger?
Well, a big pile.
At ZeroHedge.com, commentator Tyler Durden noted, “Last week, total U.S. debt was a meager $17,963,753,617,957.26.”
“Two days later, as updated today, on Black Friday, total outstanding U.S. public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total U.S. public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.”
“It also means that total U.S. debt has increased by 70 percent under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.”
In short, the federal government has borrowed, and spent, nearly $7.5 trillion more since President Obama took office than it has collected in taxes.
Debt reduction is one of the issues on which GOP leaders have said they want to take action when they take control of the Senate in January. Others are Obamacare and federal regulations.
Apart from a collective gasp, American consumers do have an option to actually do something because of their concern.
A No More Red Ink campaign is available.
Signing up allows a constituent to send individually addressed letters in red ink to Republicans in the House for only $29.99.
The letters go to the House members because they are the ones responsible for writing the nation’s spending bills.
Earlier, an identical campaign sent more than 1 million red letters to the House Republicans. However, only 22 of them voted against hiking the debt limit.
In 2010, a similar campaign presented members of the House and Senate with more than 9 million “pink slips” warning them of what would come in the next election if they didn’t change their ways.