Federal Debt Climbed $198 Billion in October

By Terence P. Jeffrey | November 2, 2017 | 5:45pm EDT
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(CNSNews.com) - The federal debt climbed $197,573,533,835.88 in October, the first month of fiscal 2018.

On Sept. 29, 2017, the last business day of fiscal 2017, the total federal debt stood at $20,244,900,016,053.51, according to the Treasury. As of Oct. 31, 2017, it stood at $20,442,473,549,889.39—marking a one-month increase of $197,573,533,835.88

The $197,573,533,835.88 increase in the debt equaled about $6,373,339,801.16 for each of the 31 days in October.

It also equaled about $1,651.32 in new federal government borrowing for each of the 119,646,000 households there were in the United States as of September, according to the Census Bureau.

The $20,442,473,549,889.39 in total federal debt at the end of October included $14,751,096,800.09 in “debt held by the public” and $5,691,027,453,089.30 in “intragovernmental debt.”

On Nov. 1, the first day of the second month of fiscal 2018, the debt continued to climb, rising to $20,453,288,033,638.83 by the close of business---a one-day hike of $10,814,483,749.44.

Debt held by the public, the Treasury explains, consists of Treasury securities, such as bills, notes and bonds, held by “entities outside the United States Government.” Intragovernmental debt consists of money the Treasury has borrowed and spent out of government trusts funds such as the Social Security trust funds.

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