Enjoy our faster App experience

US debt crosses record $19 trillion; likely to increase

US debt crosses record $19 trillion; likely to increase

The average US taxpayer is $158,836 in debt.



By Web Report

Published: Fri 5 Feb 2016, 1:12 PM

Last updated: Sat 6 Feb 2016, 8:26 AM

The United States of America is now officially a whopping $19 trillion in debt - that's T for trillion which translates to nearly $19,000 billion.
According to the latest figures released by the US Treasury Department on Monday (February 1), technically the US federal government is in debt, The Washington Times reported.
According to the report, President Obama took office in 2009 with $10.6 trillion, adding up to $8 trillion during his two terms - taking the national debt to $19 trillion at a 'record pace'.
The Congressional Budget Office has said that this is likely to increase further.
As of February 5, the total federal government debt stood at $19.01 trillion. Of this $13.7 trillion is debt held by the public and the rest is internal government borrowing, including the IOUs the government has left in the Social Security trust fun over the last three decades, WT further reported.
So how much is the US citizen in debt?
According to a popular US national debt counter site, www.us.debtclock.org:
- Debt per US citizen: $58,853
- Debt per taxpayer: $158,836
 


More news from WORLD