Since the inception of this website I have routinely kept a link on the page to the now popular US Debt Clock counter.
It is currently at the very bottom of the page titled: The Ticking Time Bomb
The site added a new feature this week which is what the debt will look like in 2015 based on current rates of growth. The total national debt, which is currently at just over $14 trillion (see red box below), will have grown to $24 trillion at our current pace by 2015. Click here for the 2015 outlook.
This is based on the assumption our interest rates on the debt will stay at all time historical lows. If rates were to rise (they will), then the deficit will be far higher.
This also does not include the explosion coming in unfunded liabilities such as social security and medicare. The total deficit with these items included is estimated at $144 trillion.
It will not be possible for the United States to finance this deficit, and your investment strategy should be focused on how you believe they will default:
1. Informal Default: The Federal Reserve prints money to purchase bonds (monetises the deficit)
2. Formal Default: The US declares bankruptcy