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US debt clock runs out of digits

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    US debt clock runs out of digits

    http://news.bbc.co.uk/1/hi/business/7660409.stm

    The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure.

    The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign could not display the full amount.

    The board was erected to highlight the $2.7 trillion level of debt in 1989.

    The clock's owners say two more zeros will be added, allowing the clock to record a quadrillion dollars of debt.

    Douglas Durst, son of the late Seymour Durst - the clock's inventor - hopes to replace the Manhattan clock with its lengthier replacement early next year.

    For the time being, the Times Square counter's electronic dollar sign has been replaced with the extra digit required.

    For its part, the digital dollar symbol has been supplanted by a cheaper version - perhaps a sign of the times for the American economy.

    Some economists believe the $700bn bail-out plan for ailing US financial institutions could send the national debt level to $11 trillion.

    #2
    One thing I don't understand - who is the debt owed to ?

    Is there some guy sat in a bedsit somewhere with an iou $11,000,000,000,0000 from the US government ?

    Comment


      #3
      Originally posted by foritisme View Post
      One thing I don't understand - who is the debt owed to ?

      Is there some guy sat in a bedsit somewhere with an iou $11,000,000,000,0000 from the US government ?
      I think it is pretend money. They just print more more and then aim to recoup it and destroy the money at a later stage to stop inflation.

      Comment


        #4
        Originally posted by foritisme View Post
        One thing I don't understand - who is the debt owed to ?
        The Chinese
        Listen to my last album on Spotify

        Comment


          #5
          Originally posted by DimPrawn View Post
          I think it is pretend money. They just print more more and then aim to recoup it and destroy the money at a later stage to stop inflation.
          renage

          Comment


            #6
            Originally posted by foritisme View Post
            One thing I don't understand - who is the debt owed to ?

            Is there some guy sat in a bedsit somewhere with an iou $11,000,000,000,0000 from the US government ?
            Atw
            How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.

            Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
            Xeno points: +5 - Asperger rating: 36 - Paranoid Schizophrenic rating: 44%

            "We hang the petty thieves and appoint the great ones to high office" - Aesop

            Comment


              #7
              Originally posted by HairyArsedBloke View Post
              Atw
              Indeed Atw does have the IOU, but it's in Zimbabwean dollars
              If you find this post offensive, please insert "Chan" before and "tho" after, then it should be OK.

              Sometimes I almost feel just like a human being - Elvis Costello

              Comment


                #8
                Originally posted by Cowboy Bob View Post
                The Chinese
                why do they owe so much money to chinese takeaways ?

                Comment

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