November 16, 2011 was a historic date: that’s when the US officially surpassed $15 trillion in debt for the first time since World War 2. We celebrated it by cheering $15,OOO,OOO,OOO,OOOBAMA. Today, August 28, 2012, is when we can unofficially celebrate again, because 286 days after the last major milestone was surpassed with disturbing ease, total US debt following today’s $35 billion auction of 2 Year bonds is, well, in a word: $16,OOO,OOO,OOO,OOOBAMA!
Take today’s $35 billion in 2 Year bonds.
and add this unsettled amount to the total debt…
…To get just over $16X1012 which means it took 286 days to go from $15 to $16 trillion: $3.5 billion in extra debt every day.
Alternatively take the above official Total Public Debt Outstanding, and add to this $76 billion in net new debt that will settle over the J-Hole weekend.