Federal Debt Tops $27 Trillion for First Time

By Terence P. Jeffrey | October 2, 2020 | 4:07pm EDT
(Photo by Alex Wong/Getty Images)
(Photo by Alex Wong/Getty Images)

(CNSNews.com) - The debt of the federal government topped $27 trillion for the first time on Thursday, October 1, when it climbed from an opening balance of $26,945,391,194,615.15 to a closing balance of $27,026,921,935,432.41, according to data published by the U.S. Treasury Department.

The table below from the Treasury Department's "Debt to the Penny" page shows the value of the federal debt at the close of business on each of the last twelve business days:

The federal debt had topped $25 trillion for the first time on May 5, 2020.

It then climbed another trillion dollars in just 35 days, topping $26 trillion for the first time on June 9.

Only 114 days elapsed from when the debt topped the $26-trillion threshold on June 9 to yesterday, when it topped $27 trillion for the first time.

Table III-C of the Daily Treasury Statement for Thursday, October 1, 2020 (shown below) indicates that the total public debt of the federal government rose from a closing balance of approximately $26,945,391,000,000 on September 30 to a closing balance of approximately $27,026,922,000,000 on October 1:

The chart below shows the date on which the federal debt surpassed each trillion-dollar threshold from $5 trillion to $27 trillion:

 

 

The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.

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