Uncle Sam’s New Year’s Eve Borrowing Binge: $1,088 Per Household in 1 Day

Uncle Sam—AKA the federal government—went on a New Year’s Eve binge, adding a net of $125,202,709,546.99 to its total debt in just the one day of Dec. 31, 2013, according to the U.S. Treasury.

That equals approximately $1,088.60 for each of the 115,013,000 households the Census Bureau currently estimates there are in the United States.

Overall, in the first quarter of fiscal 2014, which ended on Dec. 31, the total debt of the federal government jumped $613,787,258,252.83

That equals $5,336 for each household in the country.

At the close of business on Dec. 30, 2013, the total debt of the federal government was 17,226,768,075,403.16. By the close of business on the next day—New Year’s Eve—the debt had risen to 17,351,970,784,950.15—a one-day jump of $125,202,709,546.99.

Read more about the United States New Year’s Eve borrowing binge HERE.