8 Months = $1,00,000,000,000 Debt

We have faced $1,000,000,000,000 in debt before, since 1981 in fact. At that time the trillion referred to total or cumulative debt acquired over years of deficits. At the end of May the US ran up a trillion dollars in debt in less than a year. Investor's Business Daily has an excellent editorial today about some of the implications. Read it and weep.