Because this is a leap year, when February has 29 rather than 28 days, Congress and the administration had an extra day over the previous three years to add debt before March 6. The full national debt is now $15,499,023,629,682.44. That equals approximately $138,738 for every full-time worker in the United States.
House Speaker John Boehner and President Barack Obama
So far in fiscal 2012–which began on Oct. 1–the federal government has borrowed more than $700 billion, according to the official debt numbers posted by the U.S. Treasury.
That means that since Oct. 1, the debt has been increasing at a pace of approximately $40 per day per each full-time worker in the United States.
The federal debt is growing at a faster clip this fiscal year than it did in either of the two previous fiscal years that began during the presidential term of Barack Obama. At the beginning of those two fiscal years, however, Obama was working with a Democratic-majority Congress.
This fiscal year is the first one during Obama’s term to start after the Republicans gained control of the House of Representatives in the 2010 elections.
Thus, with a Democratic president in the White House and a Republican speaker in the House federal borrowing has accelerated rather than decelerated.
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