from zerohedge:
November 16, 2011 was a historic date: that's when the US officially surpassed $15 trillion in debt for the first time since World War 2. We celebrated it by cheering $15,OOO,OOO,OOO,OOOBAMA. Today, August 28, 2012, is when we can unofficially celebrate again, because 286 days after the last major milestone was surpassed with disturbing ease, total US debt following today's $35 billion auction of 2 Year bonds is, well, in a word: $16,OOO,OOO,OOO,OOOBAMA!
The math?
Take today's $35 billion in 2 Year bonds.
http://www.treasurydirect.gov/NP/BPDLogin?application=np
...To get just over $16X1012 which means it took 286 days to go from $15 to $16 trillion: $3.5 billion in extra debt every day....
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Annulised debt growth rate: 8.5%pa.
And US GDP is growing at???
QE to infinity!
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