Terence P. Jeffrey – January 3, 2017
(CNSNews.com) – The federal debt climbed by more than a trillion dollars during 2016, according to data released today by the U.S. Treasury.
On Dec. 31, 2015, the last business day of 2015, the federal debt was $18,922,179,009,420.89. On Dec. 30, 2016, the last business day of 2016, it was $19,976,826,951,047.80.
The one-year increase in the federal debt during calendar year 2016 was therefore $1,054,647,941,626.91.
That increase in the debt equaled $8,860.65 for each of the 119,026,000 households the Census Bureau estimated there were in the United States as of September.
During President Barack Obama’s time in office the federal debt has increased by $9,349,949,902,134.72—rising from $10,626,877,048,913.08 on Jan. 20, 2009, the day of Obama’s inauguration, to $19,976,826,951,047.80 on the last day of 2016.
That equals $78,553.84 for each of the 119,026,000 households in the country as of September.