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October 2008

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9:29pm Saturday October 11, 2008 (link)

There's a U.S. Treasury website, Debt to the Penny, at

http://www.treasurydirect.gov/NP/BPDLogin?application=np

Request 10/1/2007 to 10/1/2008 and you get a daily table. Here are the first and last lines:

10/01/2007 5,057,236,452,359.32 4,005,315,947,997.31 9,062,552,400,356.63 10/01/2008 5,850,791,254,967.39 4,273,433,812,160.30 10,124,225,067,127.69 Subtracting the Debt held by the Public (first col) you get $794 billion in the last 12 months. The Total Debt (last col) line goes up $1061 billion. I assume the difference is the amount owed to Social Security.

This is when the "official" deficit is something like $400 billion. The difference is the massive spending on bailouts during the last couple of months.

During October, the debt has continued to soar, and is now at 5,994,929,606,697.25, another $144 billion just this last week. That brings the total from Sep 1 to Oct 9 to $516 billion.

Someone really should be yelling about this! We haven't even spent the $700 bailout money yet and the deficit this year is nearly a trillion dollars. This isn't some accounting fiction either. That "debt held by the public" are real Treasuries sold to someone, that we have to pay some amount of interest on.

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