Thursday, October 2, 2008

When Will The U.S. National Debt Reach The 11 Trillion Dollar Mark?

Texas Senators John Cornyn and Kay Bailey Hutchison both voted for the $700 billion giveaway.
It's cloaked in the language of Propping Up The Financial System and Preventing An Economic Apocalypse.
I don't buy it.

They're going to take your money and invest it in homes that were built during a housing bubble and sold during a housing bubble.
The idea is that they're going to unload all these houses onto unwary purchasers during the next housing bubble.
There might be some unwary purchasers left out there. People who've been living under rocks, the mentally ill, North Koreans, etc.

In the meantime, keep an eye on the National Debt meter to your right. When I installed it a few months ago, it was at 9.5 trillion, and now we're hitting 9.8 trillion. Unless the remaining rational beings in the House of Representatives hold their ground, we'll be at 10 trillion next week.

So here's the question. When do you think the National Debt meter will hit 11 trillion dollars?
Since we'll probably have the blessings of an Obama presidency with a Democratic majority in the House and Senate next year, I'm betting that we'll hit the 11 trillion mark by 1:15 p.m., October 2nd, 2009.

Place your wagers below. Give time, date, and year. Person to come closest gets a two dollar contribution for a down payment on a Community Reinvestment Act home in Yazoo City, Mississippi.

And by the way, Kay Bailey Hutchison and John Cornyn must be punished.

3 comments:

The Whited Sepulchre said...

Update....
It just jumped another 200 billion to reach 10 trillion.

Note to my grandchildren....
Have fun paying for all this ! ! !

fembuttx said...

I hope this is a contest that I am eligible to win, Jan 15, 2009....We are in a down hill spiral....WE will be speaking Chinese in 10 years...By the way, I want my home to be in Cape Giraudoux MO....Ah how pleasurable it must be there.....

Flee said...

I'm going with April 16 2009 at 1:29 pm. That will be our 27th wedding anniversary and it was about that time we became legal!