Debt Jumps Up $10,855 per Household in 12 Months

Government & Politics

National & Local

Constitutional Literacy

Site Information

Anti-Google

The total debt of the United States now equals approximately $136,690 per household.

Social Bookmarking

Debt Jumps Up $10,855 per Household in 12 Months
CNSNews.com

According to the US Treasury, the debt of the US government climbed by a total of $1,275,901,078,828.74 in fiscal 2012, which ended September 30. That means the federal government borrowed approximately an additional $10,855 for each household in the United States just over the past twelve months.

The total debt of the United States now equals approximately $136,690 per household.

In fiscal 2011, the debt increased by about $10,454 per household -- $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 Oct. 1 and ends on Sept. 30.

At the close of business on Sept. 30, 2011, the total debt of the US government was $14,790,340,328,557.15, 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

That meant 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 estimated 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.

READ FULL SOURCE ARTICLE

Editor's Note: Big whoop...they'll just print more, I mean, what could go wrong, right?...Right?!

The BasicsProject.org informational and educational pamphlet series is now available for Kindle and iPad. Click here to find out more...

The New Media Journal and BasicsProject.org are not funded by outside sources. We exist exclusively on tax deductible donations from our readers and contributors. Please make a tax deductible donation today.

The BasicsProject.org informational and educational pamphlet series is now available for Kindle and iPad. Click here to find out more...

The New Media Journal and BasicsProject.org are not funded by outside sources. We exist exclusively on tax deductible donations from our readers and contributors.
Please make a tax deductible donation today.

Opinions expressed by contributing writers are expressly their own and may or may not represent the opinions of The New Media Journal, BasicsProject.org, its editorial staff, board or organization. Reprint inquiries should be directed to the author of the article. Contact the editor for a link request to The New Media Journal. The New Media Journal is not affiliated with any mainstream media organizations. The New Media Journal is not supported by any political organization. The New Media Journal is a division of BasicsProject.org, a non-profit, non-partisan 501(c)(3) research and educational initiative. Responsibility for the accuracy of cited content is expressly that of the contributing author. All original content offered by The New Media Journal and BasicsProject.org is copyrighted. Basics Project's goal is the liberation of the American voter from partisan politics and special interests in government through the primary-source, fact-based education of the American people.

FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance a more in-depth understanding of critical issues facing the world. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 USC Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to:http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

The Media Journal.us © 1998-2013 Content Copyright © Individual authors
A Division of BasicsProject.org
Powered by ExpressionEngine 1.70 and M3Server