From the deficits don't matter [politically] department, the US deficit is now just shy of ten trillion. Calculated risk writes: "Also, the National Debt has increased a stunning $895 billion over the last 12 months (from Sept 26, 2007 to Sept 26, 2008). Shocking."
Cam Riley: South Sea Republic. Freedom, liberty, equity and an Australian Republic.

Comments
  • Don't miss Calculated Risk's update to this:

    It now looks like the National Debt will be over $10 Trillion tomorrow.

    As of Sept 29th, the debt was $9,945,578,231,981.59

    The surge in the National Debt over the last two weeks has been because of the Supplementary Financing Program (SFP) with the Treasury raising cash for the Fed's liquidity initiatives (announced a couple of weeks ago).

    Today the Treasury sold $45 billion in 15 day Cash Management Bills that are all for the Fed. Tomorrow the Treasury will sell $50 billion in 42 day bills also for the Fed. And that Wednesday auction should put the National Debt over the $10 Trillion mark (we will know on Thursday).

    For good measure, the Treasury is also selling another $45 billion for the Fed on Thursday.

    • cam . # .
      heh, another 150 or so billion and the deficit has been run up trillion in a year, or about 10%. John Robb probably has a point on the looting aspect as the path to a hollow state.
      'Sworn to no party, and of no sect am I.' Frederick Vosper's republican motto.