$1,728,477,000,000: U.S. federal debt hits new record
Treasury has increased the overall debt held by the public
U.S. government debt climbed to yet another record this week, hitting $1,728,477,000,000.00 by the close of business Wednesday, Feb. 13, according to data released last week. It was an increase of $10,734,000,000.00 from the close of business on the previous Wednesday.
U.S. government debt climbed to yet another record this week, hitting $1,728,477,000,000.00 by the close of business Wednesday, Feb. 13
Since Jan. 2 of this year, the Federal Reserve has increased its holdings of U.S. government debt by $62,359,000,000.00. The Treasury has simultaneously increased the overall debt held by the public by $87,084,476,752.86. Therefore, the Federal Reserve has bought up the equivalent of 71.6 percent of the publicly held debt that has been issued by the Treasury so far in 2013, and 14.8 percent of all of the U.S. government's publicly held debt that is now extant.
The Federal Reserve said on January 30 that it intended to buy $45 billion in federal government debt per month with the aim of helping to insure economic growth at what it called a "moderate pace" as well as an unemployment rate that would "gradually decline."
The U.S. economy did not grow in the fourth quarter of 2012, according to the Bureau of Economic Analysis. On the contrary real GDP declined by 0.1 percent. In January, according to the Bureau of Labor Statistics, unemployment did not decline. In fact, it ticked up from 7.8 percent in December to 7.9 percent in January.
"The Committee expects that, with appropriate policy accommodation, economic growth will proceed at a moderate pace and the unemployment rate will gradually decline toward levels the Committee judges consistent with its dual mandate," the Federal Open Market Committee said in a press release.
© 2013, Distributed by NEWS CONSORTIUM.
Pope Francis Prayer Intentions for December 2013
General Intention: Victimized Children. That children who are victims of abandonment or violence may find the love and protection they need.
Missionary Intention: Prepare the Savior's Coming. That Christians, enlightened by the Word incarnate, may prepare humanity for the Savior's coming.
Rate This Article
Leave a Comment
More Business & Economics News
- Black gold, Texas tea! How a major discovery in a tiny Australian mining town is about to change your world
- Unregulated? Bitcoin goes mainstream and why that's a good thing
- Casino mogul vows all-out war on online gambling
- Prepaid debit card, without fees offered by Google
- Digital killing the dinosaurs, Tribune Co. to cut 700
- Merit found in employees' complaints against Wal-Mart
- Same old tactic: Treasury to issue $1trillion in new debt at beginning of 2014
- PlayStation 4 sells one million units in U.S., Canada in first 24 hours
- U.S. Postal Service ONLY loses $5 billion this year
- Fr. Paul Schenck: Finding Living Faith on Catechetical Sunday
- The Movie Yellow: Incest as 'Normal' and Cassavates's Slides Into the World of Woes
- The Chicago School Teachers Strike Reveals the Need For School Choice
- The Sexual Barbarians and the Dissolution of Culture
- The Happy Priest Challenges Us to Ask: Who is Jesus to Me?
- Michael Coren on Canadian Public Schools: Teachers, leave those kids alone
- We Cannot Ignore Our Consciences: Cardinal Dolan On Religious Liberty
- In the Face of Danger, Successor of Peter Travels to Lebanon as a Messenger of Peace
- Reflections on the Dignity and Vocation of Women: Who or What?
Disclaimer: The columns, articles, advertisers claims and any other features provided on Catholic Online Business & Economics are provided for personal finance and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of Catholic Online and there is no implied endorsement by Catholic Online of any advice or trading strategy.