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$253.5B—Obama Borrowed Nearly 6x as Much in February as Sequester Cuts All Year
Posted By Adan On March 5, 2013 @ 9:33 am In Economic Crisis | Comments Disabled
Terence P. Jeffrey
March 5, 2013
During the month of February–as President Barack Obama was warning Americans they would see dramatic effects in their lives if “sequestration” of some planned federal spending kicked in–the federal government’s debt climbed by $253.5 billion.
That one-month increase in the debt was nearly six times as much as the $44 billion in spending cuts the Congressional Budget Office estimates will take place in all of fiscal 2013 as a result of sequestration.
At the close of business on Jan. 31, 2013, the federal debt was $16,433,791,850,294.04, according to the U.S. Treasury. At the close of business on Feb. 28, 2013, the federal debt was $16,687,289,180,215.37. Thus, the federal debt increased $253,497,329,921.33 during the month.
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