Killing the leap year is the only way to fix our broken calendar
February 29 is broken, and it's leading to calls to rip up our calendars for good
For millennia, humans have had a 0.24219 problem. It’s the extra five hours, 48 minutes and 45 seconds at the end of Earth’s 365-day journey around the Sun. But for as long as we’re on the planet and want to keep track of the date, that tiny number will always cause a big headache.
It’s why today exists: February 29. It was back in 46 BC that astronomers recommended to Julius Caesar that he implement a new calendar which packaged that pesky quarter-day into one convenient lump every four years, tagged onto the shortest month of the year.
But it was an overcorrection – every leap year pushed the calendar 45 minutes ahead of the Earth. By the time Pope Gregory XIII was trying to figure out the date in the 16th Century, that difference added up to 10 days. Not good, considering that the Church relies on the spring equinox to set the date for Easter every year.
So, we have the Gregorian Calendar. Instead of leap years every four years, centennial years which aren’t divisible by 400 keep a regular 365-day cycle. That’s why 2000 was 366 days long, 1900 a day shorter. That keeps our calendar much more aligned with the Earth’s trip around the Sun.
Problem solved. Except, it’s still not perfect. February 29 has led to coding bugs, questions over what to do with the extra business day and wonky interest rates.
According to one academic who wants to scrap our calendar for good, it’s a dated system which costs the US $130bn a year. “For corporate and municipal bonds, the 30/360 rule is used,” explains Steve Hanke, professor of applied economics at Johns Hopkins. “Every month is assumed to be 30 days long, the year 360 days.” Simply put, those receiving interest payments are being short changed by the calendar.
For now, we’re stuck with muddling on with February 29. That’s unless Hanke and Henry’s executive order for their new calendar, which they’ve drafted and sent to the White House, gets signed off. It’s their surest bet for worldwide adoption. “The Pope isn’t going to do it like he did in the 16th Century,” explains Hanke. “It’s the President who can put the federal government on any calendar he wants.” Then, we’d have February 30 to deal with. “Donald Trump has the opportunity to be the next Caesar and have a calendar named after him. He might just take it.”