Interesting Note on US Public Debt

[Mike Ellis]

Ran across this interesting graphic on the government website this morning:


Government - Debt Subject to the Limit Graph

Notice the green line that displays Debt Subject to the Limit, which is the maximum amount of money the Government is allowed to borrow without receiving additional authority from Congress. The current statutory limit is $8.965 trillion.

If the increase continues at the rates of the last month, the debt limit will be reached within another month. If there is another big dip from redemptions, it might take until October. So what happens when that limit is reached? Congress will just authorize more debt. The "limit" isn't much of a limit at all it would seem. FAQs are at the following link.

Government - Frequently Asked Questions about the Public Debt

Since the debt is reportedly nothing but a really big number it's continued growth is little more than an exercise in mathematics, but should any of you feel the urge to reduce the debt they provide the following handy information:

How do you make a contribution to reduce the debt?
Make your check payable to the Bureau of the Public Debt, and in the memo section, notate that it is a Gift to reduce the Debt Held by the Public. Mail your check to:

Attn Dept G
Bureau Of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188

I thought about paying it out at $1000 a week just to help Uncle Sam out, but I ran up against time limitations - it will take 172 MILLION years. I may not live that long even with Social Security propping me up in a corner of the nursing home, so can some of you guys pitch in?