U.S. NATIONAL DEBT CLOCK

The Outstanding Public Debt as of 08 Dec 2008 at 05:08:59 PM GMT is:

The estimated population of the United States is 305,237,623
so each citizen's share of this debt is $34,950.88.

The National Debt has continued to increase an average of
$3.80 billion per day since September 28, 2007!

Are you surprised? Times Square's National Debt Clock, which has been tallying up money owed by the U.S. government since 1989, is running out of spaces.

In September 2008, the digital dollar sign was eliminated to make way for an extra digit—the "1" in $10 trillion (the national debt is currently $10.2 trillion). Now, a new clock is in the works that will make room for a quadrillion dollars of debt, according to the Associated Press. Anticipated completion is early 2009.

A little history on the clock: It was created in 1989 by Manhattan real estate developer Seymour Durst to inform the public about the nation's snowballing national debt (back then, it was $2.7 trillion). Seymour died in 1995, and the clock is now owned by his son, Douglas Durst.

According to the Treasury, the national debt has grown more than $500 billion each year since fiscal year 2003. The $700 billion government bailout could send the national debt to more than $11 trillion, says the AP.

AROUND the BLOGOSPHERE:

On the National Debt and the New Recession - Economix Blog ... - With the federal debt at close to $11 trillion and counting — and far more if you consider the obligations to future recipients of Medicare and Social Security — economists and other experts are debating to what extent taxpayers should ...

Hale "Bonddad" Stewart: If We're Going to Spend, Now's the Time To ... - If our creditors view us as serious about solving our fiscal deficits (Social Seurity, Medicare, National Debt), we may not have a credit rating disaster. But the alternative as you point out is not wise. ...

Economic crisis may force 'national Government', MP warns ... - The Birkenhead MP warned that the Government's attempt to beat the downturn by cutting tax and bringing forward spending means soaring national debt, funded by the sale of gilts - due to total £146.4 billion this year and similar levels ...

THOMAS EDISON ON GOVERNMENT CREATED DEBT FREE MONEY « The ... - It is a terrible situation when the Government, to increase the national wealth, must go into debt and submit to ruinous interest charges at the hands of men who control the fictitious values of gold. “Look at it another way. ...