{"id":53053,"date":"2020-05-07T12:15:01","date_gmt":"2020-05-07T17:15:01","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53053"},"modified":"2020-05-07T12:15:07","modified_gmt":"2020-05-07T17:15:07","slug":"us-national-debt-spiked-by-1-5-trillion-in-6-weeks-to-25-trillion-fed-monetized-90","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53053","title":{"rendered":"US National Debt Spiked by $1.5 trillion in 6 Weeks, to $25 trillion. Fed Monetized 90%"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/wolfstreet.com\/2020\/05\/06\/us-national-debt-spiked-by-1-5-trillion-in-6-weeks-to-25-trillion-fed-monetized-90\/\">US National Debt Spiked by $1.5 trillion in 6 Weeks, to $25 trillion. Fed Monetized 90%<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>I\u2019d never imagined I\u2019d ever see this sort of spike, though in recent years I added an upward arrow with \u201c<em>Debt out the wazoo<\/em>\u201d to my charts, not realizing just how factually accurate this technical term would become.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The US gross national debt \u2013 the total of all Treasury securities outstanding \u2013 jumped by $1.05 trillion with a T in the four weeks since April 7 and by $1.54 trillion in the six weeks since March 23, to $25.06 trillion, the Treasury department reported today.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Those trillions are whizzing by so fast it\u2019s hard to even seen them. WOOSH\u2026 What was that? Oh, just another trillion. The flat spots in the chart are the periods when the debt bounced into the debt ceiling. Yeah, those were the days!<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/wolfstreet.com\/wp-content\/uploads\/2020\/05\/US-Gross-National-Debt-2011-2020-05-06-red-.png\" alt=\"\" class=\"wp-image-60038\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">I\u2019ve been lamenting and lambasting the stupendous growth of the US national debt since 2011, the beginning of my illustrious career as a gnat in the big world of financial media. And through all these years, I\u2019d never imagined that I\u2019d ever see this sort of spike in the US debt, though in recent years I\u2019ve been adding an upward arrow and the green label \u201c<em>Debt out the wazoo<\/em>\u201d to these charts, not realizing just how factually accurate this technical term would become.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The US debt was even surging at an accelerating rate during the \u201cBest Economy Ever,\u201d when there should have been a surplus and a reduction in the debt, so that the government can go into debt during bad times.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I wrote back then, for example on February 19, when the debt had spiked by $1.3 trillion over the past 12 months to $23.3 trillion: \u201cBut these are the good times. And we don\u2019t even want to know what this will look like during the next economic downturn.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US National Debt Spiked by $1.5 trillion in 6 Weeks, to $25 trillion. Fed Monetized 90% I\u2019d never imagined I\u2019d ever see this sort of spike, though in recent years I added an upward arrow with \u201cDebt out the wazoo\u201d to my charts, not realizing just how factually accurate this technical term would become. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,1256,827,12110,4254,4255],"class_list":["post-53053","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-debt-monetization","tag-united-states","tag-us-national-debt","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53053"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53053\/revisions"}],"predecessor-version":[{"id":53054,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53053\/revisions\/53054"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}