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By Catholic Online (NEWS CONSORTIUM)

10/2/2012 (1 year ago)

Catholic Online (www.catholic.org)

Total debt of U.S. now equals approximately $136,690 per household

According to the U.S. Treasury, the debt of the U.S. government reached a total of $1,275,901,078,828.74 in fiscal 2012, which ended this week. Essentially this means the federal government borrowed approximately an additional $10,855 for each household in the U.S. over the past year.

The debt increased by about $10,454 per household in fiscal 2011, $401 less than the $10,855 per household increase of 2012.

The debt increased by about $10,454 per household in fiscal 2011, $401 less than the $10,855 per household increase of 2012.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

10/2/2012 (1 year ago)

Published in Business & Economics

Keywords: U.S. debt, treasury, fiscal year, debt


LOS ANGELES, CA (Catholic Online) - Most frighteningly, the total debt of the U.S. now equals approximately $136,690 per household.

The debt increased by about $10,454 per household in fiscal 2011, $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 October 1 and ends on Sept. 30.

The total debt of the U.S. government was $14,790,340,328,557.15, at the close of business on September 30, 2011, 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 - meaning 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 estimates 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.

Here is how much the debt has increased in each of the last six fiscal years:

Fiscal 2007: $500,679,473,047.25

Fiscal 2008: $1,017,071,524,650.01

Fiscal 2009: $1,885,104,106,599.26

Fiscal 2010: $1,651,794,027,380.04

Fiscal 2011: $1,228,717,297,665.36

Fiscal 2012: $1,275,901,078,828.74.

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