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News Link • Government Debt & Financing

In FY 2018: Debt Up $1,271,158,167,127; Feds Borrowed $8,172 Per Every American With...

• https://www.cnsnews.com, By Terence P. Jeffrey

The federal debt increased by $1,271,158,167,126.72 in fiscal 2018, according to data released today by the Treasury.

The total federal debt started the fiscal year at $20,244,900,016,053.51 according to the Treasury, and finished the fiscal year at $21,516,058,183,180.23.

The federal fiscal year runs from October 1 through September 30.

The $1,271,158,167,126.72 in debt accumulated in fiscal 2018 made fiscal 2018 the eighth fiscal year in the last eleven in which the debt increased by at least one trillion dollars.

The $1,271,158,167,126.72 increase in the federal debt was also the sixth largest fiscal-year debt increase in the history of the United States.

The United States saw its greatest fiscal-year increase in the federal debt in fiscal 2009, which began on Oct. 1, 2008 and ended on Sept. 30, 2009.

That year the debt increased by $1,885,104,106,599.26 in 2009 dollars--or approximately $2,200,878,170,000.00 in constant August 2018 dollars (adjusted using the Bureau of Labor Statistics inflation calculator).

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