Today’s Federal Debt is about $16,738,158,460,000. FY 2009 it was $11.9 trillion Now in FY 2013 it is projected to be $17.2 trillion and growing The amount is the gross federal debt issued by the United States Department of the Treasury since 1790. It doesn’t include state and local debt, and it DOESN’T INCLUDE the “unfunded liabilities” of entitlement programs like Social Security and Medicare. Federal Debt per person is about $51,297. “Gross Federal Debt:” is the total debt owed by the United States federal government. It comprises “Debt Held by Public”, including foreign governments, debt held by federal government accounts such as IOUs owed to the Social Security trust fund, and “Debt held by Federal Reserve,” debt bought by the Federal Reserve System as part of the monetary base. Deficit: The amount by which the government’s total budget outlays exceeds its total receipts for a fiscal year. The federal DEFICIT is down from $1,294 billion in 2010 to $973 billion in 2013 thanks to forced government cuts through sequester and multiple tax increases. Although the federal deficit is the amount each year by which federal outlays in the federal budget exceed federal receipts, the gross federal debt increases each year by substantially more than the amount of the deficit each year. That is because a substantial amount of federal borrowing is not counted in the budget.
Posted on: Tue, 01 Oct 2013 23:19:40 +0000
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