Federal #Debt Up Over $7 Trillion Under President Obama
ARRA News Service Editor: In the 2011 State of the Union address, President Obama said, "The final critical step in winning the future is to make sure that we aren't buried under a mountain of debt." In 2014 he said, "It (government budget) allows us to meet our obligations to future generations without leaving them a mountain of debt." And he called debt creation "irresponsible" and " unpatriotic."
by Terry Jeffrey, CNS News: The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president.
That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation's existence--from 1776 through 2003.
The total federal debt first passed the $7-trillion mark on Jan. 15, 2004, after President George W. Bush had been in office almost three years.
When President Obama took office on Jan. 20, 2009, the total federal debt was $10,626,877,048,913.08. As of the close of business on July 30, 2014, it had risen to $17,618,599,653,160.19 - - up $6,991,722,604,247.11 from Obama’s first inauguration day. [ARRA News Service Editor's note: And Obama isn't done yet - he has 2 years and 5 months more from July 30, 2014 to add even more debt and affect future debt.]
By the close of business on July 31, 2014, it had risen to $17,687,136,723,410.59—up $7,060,259,674,497.51 since Obama first inauguration day.
As of June, there were 115,097,000 households in the United States, according to the U.S. Census Bureau. The $17,687,136,723,410.59 in debt the federal government had accumulated as of the end of July equaled $153,671.57 per household.
The $7,060,259,674,497.51 in new debt that the federal government has taken on during Obama’s presidency equals $61,341.82 per household.
The median household income in the United States in 2012 (the latest year estimated) was $51,017. Thus, President Obama has increased the federal debt by more than the typical household’s annual income.
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CNSNews.com is a division of the Media Research Center, a not-for-profit 501 (c)(3) organization.
Tags: CNS News,Federal debt, President Obama, up over $7 Trillion, irresponsible, unpatriotic To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!
by Terry Jeffrey, CNS News: The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president.
That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation's existence--from 1776 through 2003.
The total federal debt first passed the $7-trillion mark on Jan. 15, 2004, after President George W. Bush had been in office almost three years.
When President Obama took office on Jan. 20, 2009, the total federal debt was $10,626,877,048,913.08. As of the close of business on July 30, 2014, it had risen to $17,618,599,653,160.19 - - up $6,991,722,604,247.11 from Obama’s first inauguration day. [ARRA News Service Editor's note: And Obama isn't done yet - he has 2 years and 5 months more from July 30, 2014 to add even more debt and affect future debt.]
By the close of business on July 31, 2014, it had risen to $17,687,136,723,410.59—up $7,060,259,674,497.51 since Obama first inauguration day.
As of June, there were 115,097,000 households in the United States, according to the U.S. Census Bureau. The $17,687,136,723,410.59 in debt the federal government had accumulated as of the end of July equaled $153,671.57 per household.
The $7,060,259,674,497.51 in new debt that the federal government has taken on during Obama’s presidency equals $61,341.82 per household.
The median household income in the United States in 2012 (the latest year estimated) was $51,017. Thus, President Obama has increased the federal debt by more than the typical household’s annual income.
CNSNews.com is a division of the Media Research Center, a not-for-profit 501 (c)(3) organization.
Tags: CNS News,Federal debt, President Obama, up over $7 Trillion, irresponsible, unpatriotic To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!
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