Terence P. Jeffrey
Oct 4, 2012
The federal government added $93,245,605,914.16 to its debt on Oct. 1, the first day of fiscal 2013.
That was more than all the debt the federal government accumulated between July 4, 1776 when the United States declared independence from England and sometime in October 1942, which was ten months after the Japanese attacked Pearl Harbor and the United States entered World War II.
At the close of business on Sept. 30, 1942, according to the U.S. Treasury’s Monthly Statement of the Public Debt, the total debt of the U.S. government was $91,057,523,886.72. By the close of business on Oct. 31, 1942, it was $97,168,867,541.93. Sometime during October 1942 the total debt that the U.S. government had accumulated during the first 166 years of the nation’s existence eclipsed the $93,245,605,914.16 in new debt the U.S. government accumulated solely during the business hours of Monday, Oct. 1, 2012
At the close of business on Friday, Sept. 28, which was the last business day of fiscal 2012, the debt of the U.S. government stood at $16,066,241,407,385.89, according to the U.S. Treasury. By the close of business on Monday, Oct. 1, 2012, the first business day of fiscal 2013, it had climbed to 16,159,487,013,300.35—a one-day increase of $93,245,605,914.16.
This article was posted: Thursday, October 4, 2012 at 2:42 am