On Sept 6, when looking at the latest daily debt numbers, we predicted that total US debt would hit the very special number of 33 in two weeks.
We were off by 2 days, with the US treasury naturally obliging by hitting the number early rather than late.
Today, the Treasury announced that for the first time, total US debt has surpassed $33 trillion, rising by $56 billion in one day, and by a mindblowing $1 trillion in just the past 3 months!
The historic breakout takes place just weeks before the interest on total Federal debt is set to hit $1 trillion, surpassing how much the US spends on defense - and soon after - every other outlay category.
Finally, for those who expect a happy ending, we have one word: "don't."
Here is the CBO's latest debt forecast. It shows that US debt is now set to hit $50 trillion by 2030 (probably much sooner though), and then proceed exponentially higher until the US currency finally collapses.
