Debt: Feds borrowed an additional $10,855 for each U.S. household over the past year
Total debt of U.S. now equals approximately $136,690 per household
According to the U.S. Treasury, the debt of the U.S. government reached a total of $1,275,901,078,828.74 in fiscal 2012, which ended this week. Essentially this means the federal government borrowed approximately an additional $10,855 for each household in the U.S. over the past year.
The debt increased by about $10,454 per household in fiscal 2011, $401 less than the $10,855 per household increase of 2012.
The debt increased by about $10,454 per household in fiscal 2011, $401 less than the $10,855 per household increase of 2012.
The $1.2758 trillion that the debt increased in fiscal 2012 was about $47.18 billion more than the $1.2287 trillion that the debt increased in fiscal 2011. The federal fiscal year begins on October 1 and ends on Sept. 30.
The total debt of the U.S. government was $14,790,340,328,557.15, at the close of business on September 30, 2011, according to the Treasury. At the close of business on Sept. 28, the last business day of fiscal 2012, it was $16,066,241,407,385.89 - meaning the debt increased in fiscal 2012 by $1,275,901,078,828.74.
At the close of business on Sept. 30, 2010, the debt had stood at $13,561,623,030,891.79. Over the course of fiscal 2011, it increased by $1,228,717,297,665.36 before closing at 14,790,340,328,557.15 on Sept. 30, 2011.
The fiscal 2012 increase of $1,275,901,078,828.74 exceeded the fiscal 2011 increase $1,228,717,297,665.36 by $47,183,781,163.38
The Census Bureau estimates that there were 117,538,000 household in the United States in 2010. The $1,275,901,078,828.74 that the debt increased in fiscal 2012 equaled about $10,855 for each one of those 117,538,000 households.
Here is how much the debt has increased in each of the last six fiscal years:
Fiscal 2007: $500,679,473,047.25
Fiscal 2008: $1,017,071,524,650.01
Fiscal 2009: $1,885,104,106,599.26
Fiscal 2010: $1,651,794,027,380.04
Fiscal 2011: $1,228,717,297,665.36
Fiscal 2012: $1,275,901,078,828.74.
© 2012, Distributed by NEWS CONSORTIUM.
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Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.
Keywords: U.S. debt, treasury, fiscal year, debt
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This is all Obama, Nancy Pelosi, and Harry Reid's debt from 2007 to the present. I wish Romney would have pointed that out. Nancy Pelosi, Harry Reid, and Senator Obama won the 2006 election and took control January 2007. The 'DEBT' sky rocketed since then.
There needs to be a new law stating that the government is not allowed to spend more than it takes in. Borrowing money from other countries is an embarrassment and is not fair to young people who will have to pay the debt off once the current government officials have retired.