Thursday, October 6, 2011

In the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion - more than the total national debt of about $4.1672 trillion accumulated by all 41 U.S. presidents from George Washington through George H.W. Bush combined

This $4.212 trillion increase in the national debt means that during Obama’s term the federal government has already borrowed about an additional $35,835 for every American household - or $44,980 for every full-time private-sector worker. When Obama was inaugurated on Jan. 20, 2009, according to the Treasury Department, the total national debt stood at $10,626,877,048,913.08. At the end of January 1993, the month that President George H. W. Bush left office, the total national debt was $4.1672 trillion, according to the Treasury. Thus, the total national debt accumulated by the first 41 presidents combined was about $44.8 billion less than the approximately $4.212 trillion in new debt added during Obama’s term. During Obama's time in office, the debt increased at an average pace of $4.27 billion per day. Were that rate to continue until Obama’s term ends on Jan. 20, 2013, the debt would then stand at about $16.86534 trillion - an increase of more than $6.2 trillion for Obama’s four years. That would equal nearly $53,000 for each American household or more than $66,00 for each full-time private-sector worker.

1 comment:

  1. This is just "Affirmative Spending". "Divirsity" in action.

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