National Deficit Debt Clock
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(ZEROHEDGE) – For the old timers in here, it seems like just yesterday that the US national debt was "only" pushing $6 trillion. Then, between the 'war on terror' and QE which made a mockery of moral hazard, America has now reached a grim financial milestone – as the national debt tops $31 trillion for the first time, according to a new Treasury Department report.
The record-high debt comes as historically low interest rates have turned into higher borrowing costs, as the Fed attempts to tame the inflation they, the banks, and the 'blank check' dinosaurs leading the country – have caused.
And, of course, the only reason they've been able to pull this off without (until recently) massive, consumer-scorching inflation is because the dollar is still the global reserve currency.
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