New year, new debt

The departing 111th Congress left you and your descendants a Christmas gift unlike any other--a gift that will keep on taking from you long after the donors are gone. Debt. Massive debt reports Terence P. Jeffrey of CNS.

The federal government has accumulated more new debt--$3.22 trillion ($3,220,103,625,307.29)-during the tenure of the 111th Congress than it did during the first 100 Congresses combined, according to official debt figures published by the U.S. Treasury.

That equals $10,429.64 in new debt for each and every one of the 308,745,538 people counted in the United States by the 2010 Census.

Adding the above new debt to the old debt

The total national debt of $13,858,529,371,601.09 (or $13.859 trillion), as recorded by the U.S. Treasury at the close of business on Dec. 22, now equals $44,886.57 for every man, woman and child in the United States.

And not so incidentally this last Congress, like the formerly highest debt ridden 110th, was controlled by Democrats in both the Senate and House of Representatives.

[T]he $3.22 trillion in new debt accumulated during the record-setting 111th Congress is more than three times the $1.054 trillion in new debt accumulated by the last Republican-majority Congress (the 109th) which adjourned on Dec. 8, 2006.

And a very happy, healthy (Obamacare begins to kicks in) and uhm debt free new year 2011 to you.