Wehrwolfen
Senior Member
- May 22, 2012
- 2,750
- 342
- 48
By Terence P. Jeffrey
March 4, 2013
(CNSNews.com) - 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 governments 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.
In its Budget and Economic Outlook for Fiscal Years 2013-2023, published in February, the CBO explained that only $44 billion in planned federal spending will be cut during this fiscal year as a result of sequestration.
The CBO also says additional cuts that will be attributable to fiscal 2013 will actually take place in later yearsnot in fiscal 2013.
[Excerpt]
Read more:
$253.5B?Obama Borrowed Nearly 6x as Much in February as Sequester Cuts All Year | CNS News
March 4, 2013
(CNSNews.com) - 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 governments 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.
In its Budget and Economic Outlook for Fiscal Years 2013-2023, published in February, the CBO explained that only $44 billion in planned federal spending will be cut during this fiscal year as a result of sequestration.
The CBO also says additional cuts that will be attributable to fiscal 2013 will actually take place in later yearsnot in fiscal 2013.
[Excerpt]
Read more:
$253.5B?Obama Borrowed Nearly 6x as Much in February as Sequester Cuts All Year | CNS News
