We Might Owe More Dollars than Exist
This will be a quick post. I just thought the one or two people who read this blog might like to know that…
As of Tuesday (August 25) the United States’ national debt stood at 11.7 trillion dollars. Let me write that number for you…
$11,700,000,000,000.
Also, you probably don’t know this but a few years ago the Federal Reserve quit reporting how much total currency is in circulation in the US, something called the M3 money supply. Estimates run around 13 trillion or so but we really don’t know anymore. Without getting too technical here, the bottom line is that the US debt nearly equals to total estimated number of dollars in circulation. At the pace we’re going, we’ll surpass that soon.
Just thought you’d want to know.
