People are interested in this for all the wrong reasons. The debt has almost never went down, it was just going up. 10-20 years from now, when the debt is $50 trillion (printed money - nobody wants to lend anymore), we are going to look at it and say "remember when":

(via: http://www.econbrowser.com)

This has been in the news lately and even though people talk about it, many have no idea what that is. United States public debt is a measure of the obligations of the United States federal government and is presented by the United States Treasury in two components and one total:

1. Debt Held by the Public, representing all federal securities held by institutions or individuals outside the United States Government;
2. Intragovernmental Holdings, representing U.S. Treasury securities held in accounts which are administered by the United States Government, such as the OASI Trust fund administered by the Social Security Administration; and
3. Total Public Debt Outstanding, which is the sum of the above components.

In short, it is the money that is owed mostly to the Federal Reserve and to foreign governments. The debt is a sum of all deficits starting from 1791. Deficit (or Surplus) is how much money the government spends (or keeps, respectively) compared to its income (from taxes). If it doesn't have enough, it "borrows" (see: foreign governments above) or prints (federal reserve).

Below is the table of historical public debt, posted here for record purposes:

DIY cable holders - simple and elegant:

Here's something you don't see every day. Roughly five months ago Bank of America tried to foreclose on a home of a couple, who didn't owe anything on their house. The case went to court and after looking at the proof that they've paid for their house in cash the judge ordered the bank to pay for the couple's legal fees.

"They've ignored our calls, ignored our letters, legally this is the next step to get my clients compensated, " attorney Todd Allen said.

Sheriff's deputies, movers, and the couple's attorney went to the bank and foreclosed on it. The attorney gave instructions to to remove desks, computers, copiers, filing cabinets and any cash in the teller's drawers.

 

Vladimir Putin has become the object of veneration for a bizarre all-female sect whose followers believe that the Russian prime minister is a reincarnation of the early Christian missionary Paul the Apostle.

Members of the sect in a village 250 miles south-east of Moscow believe that the 58-year-old former KGB agent is on a mission from God. "According to the Bible, Paul the Apostle was a military commander at first and an evil persecutor of Christians before he started spreading the Christian gospel," the sect's founder, who styles herself Mother Fotina, said.

"In his days in the KGB, Putin also did some rather unrighteous things. But once he became president, he was imbued with the Holy Spirit, and just like the apostle, he started wisely leading his flock."

The famous house from Home Alone movie is up for sale. (For those of you from a younger generation, Home Alone is a 1990 American Christmas comedy film written and produced by John Hughes and directed by Chris Columbus. The film stars Macaulay Culkin as Kevin McCallister, an eight-year-old boy, who is mistakenly left behind when his family flies to Paris for their Christmas vacation.) Owners John and Cynthia Abendshien are asking 2.4 million dollars for the famed Winnetka residence. It comes with 4 bedrooms, 3 baths and is one of the most famous houses in the neighbourhood. No open houses are planned for the residence, in case you plan to go visit.