NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT
"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams
Thursday, October 5, 2017
Federal Debt Increases for 60th Straight Year
(CNSNews.com) -- The total federal debt climbed by $671,455,302,116.72 in fiscal 2017, making 2017 the 60th straight fiscal year in which the federal debt has increased, according to the official numbers published by the U.S. Treasury.
At the end of fiscal 2016, the federal debt stood at $19,573,444,713,936.79. By the end of fiscal 2017 (which closed on Sept. 30), it was $20,244,900,016,053,51.
The last fiscal year in which the federal debt declined was fiscal 1957. In that year, according to the Treasury, the total federal debt dropped from $272,750,813,649.32 at the close of fiscal 1956 to $270,527,171,896.43 at the close of fiscal 1957.
But, in fiscal 1958, the debt climbed to $276,343,217,745.81—and in every fiscal since then, it has finished each fiscal year higher than it started that fiscal year.
That means that the last president to govern during a fiscal year when the debt actually declined was Dwight Eisenhower.