Having a great day? Here's a bit of news to bring you back down to earth. In 1989, real estate developer Seymour Durst created a big clock that tallied our government's debt. Durst was so amazed, dismayed, and outraged that the national debt was approaching $3 trillion (a paltry $2.7 trillion at the time), that he invented this gigantic clock and put it on display in Times Square.

Just last month, the clock ran out of space. They had to change the dollar sign to a one (1), because the debt had spiralled to more than $9.999 trillion. There was no more room!

(AP photo/Kathy Willens)

What is to be done? The Durst family (Seymour passed away in 1995) plans to replace the clock next year with one that has an additional two digits in order to keep recording the debt. Can you guess how high the new clock will be capable of going? A quadrillion dollars!

 

 
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6 Comments on Sign of the times: US national debt clock runs out of digits

OCT
09
2008
178,853 Points 1 Featured Post

Ah yes, we've seen this type of problem before.  Remember when we gas pumps wouldn't display more than 99 cents?  Many stations started pricing in liters rather than gallons to get around the problem until new pumps were available.

12:59pm • #1

John - Do you think any members of the Bush Administration feel they owe us an explanation?

1:13pm • #2

Wow! Thats all I can say. I never knew there was an actual clock featured in Time Square, but I have the website version on one of my webpages.

1:22pm • #3
1 Featured Post

Richard - I'm under 30, but when I filled up the car I bought when I was 16, it was about $10. Those were the days.

John - They don't even feel they owe us an explanation for the trillion dollar mistake in the Middle East. They feel they are immune from everything, and us lowly public deserves nothing.

Mike - Does your website version have enough digits to go to a quadrillion? :)

1:31pm • #4
OCT
10
2008
129,146 Points 3 Featured Posts

I heard about this I'm surprised that the current administration even allows this clock to hang.

8:53pm • #5
OCT
14
2008
366,398 Points 4 Featured Posts Outside Blog

I think it's only a matter of time before some rich country calls our debt due. At that point, we'll have to print lots of money, thereby running up inflation and making the dollar worthless, or seek a bailout of our federal government from OPEC, the European Union, or China.

The dollar is already losing its position as the international currency of choice, and other countries are not turning to the U.S. for help.

Iceland, on the verge of bankruptcy, went to Russia for $4 billion.

Mitsubishi, Japan's largest bank, just bought 20% of Morgan Stanley for $9 billion. Anheuser-Bush, an American icon, was sold to foreigners.

Etc., etc., etc., ad nauseum ad infinitum.

With our 350 million people, we're losing financial ground to Japan, China, OPEC countries, and the European Union. We need to get together with Canada, Mexico, Central America and South America and create an American Union if we're going to have any relevance in the world in the future.

Pre-emptive invasions of foreign countries has not helped our standing in the world, and while we might have a lot of cool weapons and stuff, we might not have enough people to operate them against a conglomeration of other countries with six billion people.

5:23pm • #6

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John Morrison - Boston area real estate - Exclusive Buyer's Agent, CBR

Ipswich, MA

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