Debt Jumped $1.2759T in FY 2012; Up $10,855 Per Household in Just 12 Months; Beats 2011Submitted by emalvini on Tue, 10/02/2012 - 09:21
Debt Jumped $1.2759T in FY 2012; Up $10,855 Per Household in Just 12 Months; Beats 2011
By Terence P. Jeffrey
October 1, 2012
(CNSNews.com) - According to the U.S. Treasury, the debt of the U.S. government climbed by a total of $1,275,901,078,828.74 in fiscal 2012, which ended yesterday.
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.