100.3% Debt/GDP - Thank you Very Much Barack

[SparrowHawk]

US Closes 2011 With Record $15.22 Trillion In Debt, Officially At 100.3% Debt/GDP, $14 Billion From Breaching Debt Ceiling

Submitted by Tyler Durden on 01/03/2012 16:49 -0500

While not news to Zero Hedge readers who knew about the final debt settlement of US debt about 10 days ahead of schedule, it is now official: according to the US Treasury, America has closed the books on 2011 with debt at an all time record $15,222,940,045,451.09. And, as was observed here first in all of the press, US debt to GDP is now officially over 100%, or 100.3% to be specific, a fact which the US government decided to delay exposing until the very end of the calendar year. We wonder, rhetorically, just how prominent of a talking point this historic event will be in any upcoming GOP primary debates. And yes, technically this number is greater than the debt ceiling but it excludes various accounting gimmicks. When accounting for those, the US has a debt ceiling buffer of... $14 billion, or one third the size of a typical bond auction.

Folks, as long as the debt to GDP ratio is above 80% the truth is Homey D Clown could be President and it wouldn't matter. History shows us this, we don't listen. We scoff at "Crazy Uncle Ron" and others. Facts is facts folks and truth is with the exception of Ron Paul NO ONE of either party despite the growing influence of the Tea Party and Occupy Wall Street movements wants to even attempt to dance with much less tame this 800 pound gorilla.