Federal debt increased by $2.2 trillion in fiscal year 2023

The federal government’s debt increased by $2,238,422,431,416.43 in fiscal 2023, according to data published by the U.S. Treasury Department.

On Sept. 30, 2022, the last day of fiscal 2022, the federal debt was $30,928,911,613,306.73, according to Treasury Department data. By Sept. 29, 2023, the last business day of fiscal 2023, it had climbed to $33,167,334,044,723.16.

The $2,238,422,431,416.43 increase in the federal debt that took place in fiscal 2023 is the third largest fiscal-year increase on record. The largest fiscal-year increase in the federal debt occurred in fiscal 2020, the year the COVID-19 pandemic hit.

That fiscal year, the debt increased by $4,225,989,441,181.

In fiscal year 2021, the annual increase in the debt dropped back to $1,483,527,375,433. But in fiscal 2022, the debt increased by $2,499,993,043,258 before climbing by $2,238,422,431,416 in fiscal 2023.

Fiscal 2022 and 2023 mark the first two years in succession that the federal debt has increased by more than $2 trillion.

As of August, according to the Bureau of Labor Statistics, there were approximately 161,484,000 people employed in the United States. The federal debt of $33,167,334,044,723.16 equaled $205,390.83 for each of those workers.

All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

DONATE TO BIZPAC REVIEW

Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!

Success! Thank you for donating. Please share BPR content to help combat the lies.

About
Latest Posts

Terence Jeffrey

Terence P. "Terry" Jeffrey is editor-in-chief of the conservative United States Internet news service CNSNews.com, a position he assumed in September 2007. In 1996, he became editor of Human Events, a national conservative weekly newspaper in the United States

Latest posts by Terence Jeffrey (see all)

Kamala Harris twice voted to block bill that would protect newborn babies - September 14, 2024
Supreme Court has a chance to torch one of the Left’s favorite legal tactics - June 8, 2024
Los Angeles leads nation in population decline - March 15, 2024

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. Thank you for partnering with us to maintain fruitful conversation.