Tuesday, December 2, 2014

The Runaway Trillions

By Chris Rossini

The misnamed "National Debt" hit the $18,000,000,000,000 mark a few days ago.

Here's Simon Black on how the trillions are accumulating at a faster and faster pace:
On October 22, 1981, the government of the United States of America accumulated an astounding $1 TRILLION in debt.

At that point, it had taken the country 74,984 days (more than 205 years) to accumulate its first trillion in debt.

It would take less than five years to accumulate its second trillion.

And as the US government just hit $18 trillion in debt on Friday afternoon, it has taken a measly 403 days to accumulate its most recent trillion.
Rothbard is still correct on the government's debt...Repudiate!

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