Posted on 10/04/2016 9:27:55 PM PDT by Mr. Mojo
(CNSNews.com) - In fiscal 2016, which ended on Friday, the federal debt increased $1,422,827,047,452.46, according to data released today by the U.S. Treasury.
At the close of business on Sept. 30, 2015, the last day of fiscal 2015, the federal debt was $18,150,617,666,484.33, according to the Treasury. By the close of business on Sept. 30, 2016, the last day of fiscal 2016, it had climbed to $19,573,444,713,936.79.
According to the Census Bureau’s latest estimate, there were 118,215,000 households in the United States as of June. That means that the one-year increase in the federal debt of $1,422,827,047,452.46 in fiscal 2016 equaled about $12,036 per household.
The total federal debt of $19,573,444,713,936.79 now equals about $165,575 per household.
The increase in the federal debt in fiscal 2016 was larger than it might have been had Treasury Secretary Jacob Lew not declared what the government calls a “debt issuance suspension period” on March 16, 2015 and kept it going until Nov. 2, 2015--when President Barack Obama signed the “Bipartisan Budget Act,” a spending deal he had cut with the Republican leaders in Congress.
During the “debt issuance suspension period,” the Treasury used what it calls “extraordinary measures” to freeze that portion of the federal debt then subject to a legal limit set by Congress at a level just below that legal limit.
These “extraordinary measures” largely amounted to changing the way the government accounted for government employee retirement funds, including the Civil Service Retirement and Disability Fund, the Postal Service Retiree Health Benefits Fund, and the Government Securities Investment Fund of the Federal Employees’ Thrift Savings Plan.
While using its “extraordinary measures,” the Treasury said that the portion of the “debt subject to the limit” was frozen at $18,112,975,000,000 for 233 straight days.
The day Obama signed the budget deal, the total federal debt jumped from $18,152,981,685,747.52 to $18,492,091,120,833.99—a one-day climb of $339,109,435,086.47.
The budget deal suspended the debt limit until March 15, 2017.
congress worse than a drunken sailor when the sailor runs out of cash he stops spending...
And the Republicans were too busy watching their favorite television series. Probably The Walking Dead.
Just contemplate 8 years of Shrillary:
On January 20, 2025, she leaves the White House with a lot of the furniture, all the dishware, etc. (we’re flat broke) but the Clinton Foundation has a net worth of $7 trillion, our national debt is $40 trillion, and Chelsea is old enough to run for President.
Vote Trump, multiple times if you live in Chicago.
There are 118 million households in America, and 100 million people that are technically not unemployed, they just can’t find a job. Think of how it would affect this country if every household in this country suddenly had a productive bread winner in it, instead of a benefit sucking parasite?
That nearly one and one half trillion dollars is why we have lost control of our government. They don’t have to answer to taxpayers because they can get one third of their operating costs from people who don’t even exist yet. For all practical purposes, the government now actually has it’s own money. This is a de-coupling of spending from revenue generation.
This is why they can import millions of new people. They don’t have to answer to taxpayers. This is also how they can afford to pay off the wealthy donors and at the same time placate huge numbers of people with welfare payments.
Each year more debt is created than the year before. But taxes hardly go up at all, comparatively speaking. If taxes were used to cover what the government spent, people would revolt and put a stop to it. So they borrow from future revenues and most people don’t feel the pain.
Eventually, it will have to change. All of the people who spent decades lying around will have no skills and their share of the pie will get smaller. Then they will riot and the government will feel fully justified in putting them down. The elites won’t feel a thing because they own everything.
How is this even possible? Where does this money go? $12,000 per household? It would be better spent just giving $12,000 to every household than where it is probably going.
1. We try to flood the country with new immigrants just to spread this debt among more people.
2. More and more illegal immigrants are onto the game and know full well what we're doing ... and as a result they have no interest in a "path to citizenship" no matter how easy we make it.
$12750 per household?? It is time to cut off the Congress spending...Trump/Pence 2016
Yeah but America’s slave owning past has been resolved after electing this magic negro.
NOT. This guy is an America hating a-hole.
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