Tag Archives: China

National Debt Clock To Add Digits

New York, New York (PSC) – The National Debt Clock, a unique electronic green sign that has chronicled the second-to-second growth in the U.S. debt since 1989, has announced it will overhaul the digital number system to account for America’s record fiscal irresponsibility.

Located in midtown Manhattan, the clock runs by a computer which takes the exact figure of the national debt at the same time every week and then calculates the rate of change. In the mid-90’s, the debt was increasing so fast that it temporarily crashed the computer. This week the clock shuts down for a similar reason; excessive spending and borrowing. “The government has been acting like a group of careless card counting MIT students in Vegas,” said Douglas Durst, son of the real estate tycoon who developed, erected, and maintained the clock to graphically warn the public of the rapidly growing debt.

Mr. Durst is scheduled to meet with officials from the Chinese Government in Zurich, Switzerland next month to discuss subsidizing the project. Many economists blame China’s policies on perpetuating the negative cycle of debt. Durst insists China bears some of the responsibility and should pay for a portion of the renovations. In a phone interview he reiterated, “our objective with this project is to make a clock with enough digits to last the length of a potential eight year McCain Presidency.”

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Filed under Borrowing, China, Clock, Debt, fiscal irresponsibility, Spending, Uncategorized