Yes, the US debt surpassed $16 trillion yesterday. It's not "official" quite yet as the 2-year bond auction that pushed us over the edge still needs to settle, but next week this will be all over the financial news.

Zero Hedge wrote a great article on this that I highly recommend you read - it's short, sweet and to the point, and Tyler points out that it took only 286 days for us to add another trillion to our debt (whereas it took 200 years for us to accumulate our very first trillion!).

At this rate of growth, our total US debt load will surpass (not including unfunded liabilities):

• $17 trillion on June 10, 2013;
• $18 trillion on March 23, 2014;
• $19 trillion on January 3, 2015; and
• $20 trillion on October 16, 2015