National Debt Jumped Another $105.8 Billion in January
(CNSNews.com) - The federal debt increased by $105.8 billion ($105,835,837,302.32) in January, according to the the U.S. Treasury Department, jumping from $14.0252 trillion ($14,025,215,218,708.52) at the close of business on December 31 to $14.1311 trillion ($14,131,051,056,010.84) at the close of business on January 31.
That means that in the first four months of fiscal 2011--which began on Oct. 1, 2010--the federal debt has increased by $569.4 billion ($569,428,025,119.05), keeping fiscal 2011 on track to be the second ranking year in U.S. history for an increase in the federal debt.
The federal debt increased by $1.89 trillion in fiscal 2009, making that the top ranking year in the history of the United States for increased federal debt. In that fiscal year, Congress passed two extraordinary spending bills--the $700-billion Troubled Asset Relief Program legislation that President George W. Bush signed in October 2008, and the $787-billion stimulus legislation that President Barack Obama signed in February 2009.
As of now, fiscal 2010 is the second-ranking year in U.S. history for accumulating new federal debt. In that fiscal year, the federal debt increased by $1.65 trillion.
However, the federal government’s accumulation of new debt in fiscal 2011 is currently on a pace to outstrip the new debt accumulated in fiscal 2010. If the government continues accumulating debt in the final two thirds of the year as quickly as it did in the first third (October through January), then the total new debt accumulated for fiscal 2011 would reach $1.708 trillion.
So far this year, the government has borrowed an additional 1,844.33 for each of the 308,745,538 people in the United States as counted by the 2010 Census. At the current rate, the federal government this fiscal year would end up borrowing approximately an additional $5,532 for every man, woman and child in the country.
As of January 31, the total federal debt stood at $14,131,051,056,010.84, which equals $45,769 per person in the United States.