$11,000,000,000,000 National Debt threshold crossed
The United States total public debt, commonly called the national debt, or U.S. government debt, is the amount of money owed by the federal government of the United States to holders of U.S. debt instruments.
Note: this national debt figure (below) does NOT include unfunded liabilities.
David Walker, Former Comptroller General of the United States, places these "Unfunded" Future Obligations of our Nation at $100 Trillion Plus.
The two biggest unfunded obligations are Medicare and Medicaid followed by Social Security, interest on the National Debt, Civil Service, Postal and Military Retirements, etc.
BTW: The National Debt (below) has increased an average of $3.68 billion per day since September 28, 2007! Just look at that baby spin!
Since 2002, the national debt ceiling (a congressionally approved moving target that is not supposed to be exceeded) has been raised 7 times, as follows:
2002: Raised from $5950 billion to $6400 billion
2003: Increased again - from $6400 billion to $7384 billion
2005: Wasn't enough - increased to $8184 billion
2006: Raised from $8184 billion to $8965 billion
2007: Big one this time - from $8965 billion to $9815 billion
2008: July 08 housing Bailout package included provision for increase to $10,600 billion
2008 Bailout Package Plan: Increased ceiling from $10,600 billion to ~ $11,300 billion
So, can this National debt and list of unfunded liabilities ever be repaid? Well, the answer could be a yes or No...
No: Only if our country defaults on its debt, but it wont... Option two (yes answer below) has already been selected.
Yes: It WILL be paid through significantly devalued payouts caused by monetary expansion - i.e. a hyperinflationary blowout!
Weimar and Zimbabwe here we come!