The debt clock is not just a metaphor – there actually is a real debt clock running on Sixth Avenue in Manhattan. The national debt clock (as it’s formally known) is a clock that shows a running total of the United State’s gross national debt. This is shown in a dot-matrix display that constantly updates to stay up to the minute. It is billboard size and acts as a constant reminder of the national date that the United States faces. It really drives this point home too with an additional feature – the debt clock not only shows the overall debt owed by the US, but also the amount of debt owed by each American family.
The debt clock was the brain child of real estate developer Seymour Durst who felt the need to highlight the rising national debt at the time. In 1989 he did this by sponsoring the installation of the first debt clock erected on 42nd street near Times Square. Interestingly during 2,000 to 2,002 the debt clock was switched off as the debt began to fall.
In 2004 the initial debt clock was taken apart and replaced by the debt clock now running on Sixth Avenue today (just one block away from its predecessor). The new clock is outfitted with a dot-matrix display with a much higher resolution, but emulates the seven-segment numeral patterns. The clock now also has the (underused) functionality of being able to run backwards. In 2008 the debt clock reached $10 trillion – and the press widely reported that the debt clock had run out of digits – a grim reminder of the situation America is now in. An overhaul or replacement for the debt clock is being planned to add two more digits.
While this is the debt clock that the phrase most usually refers too, there are countless other similar projects and even websites where you can see an up-to-date report of national debt. Why not make your own debt clock for your own financial debt?
Visit The Debt Clock page by clicking here : THE DEBT CLOCK