First Term: Obama Increased Debt $50,521 Per Household; More Than First 42 Presidents

[Wehrwolfen]

First Term: Obama Increased Debt $50,521 Per Household; More Than First 42 Presidents in 53 Terms Combined​

By Terence P. Jeffrey
January 19, 2013



(CNSNews.com) - During Barack Obama’s first term as president of the United States, the debt of the federal government increased by $5.8 trillion, which exceeds the combined debt accumulated under all presidents from George Washington through Bill Clinton.

The new federal debt accumulated in Obama's first term equaled approximately $50,521 for each of household in the country.

On Jan. 20, 2009, when Obama was first inaugurated, the total debt of the federal government was $10,626,877,048,913.08, according to the U.S. Treasury. As of the close of business on Jan. 17, the last day reported by the Treasury before Obama’s second inauguration, the total debt of the federal government was $16,432,631,489,854.70.

Thus, from Obama’s first inauguration to his second, the federal government’s debt grew by $5,805,754,440,941.62.

Given that the Census Bureau currently estimates that there are 114,916,000 households in the United States, the $5,805,754,440,941.62 debt increase under Obama equals about $50,521 per household.

When George W. Bush was first inaugurated on Jan. 20, 2001, the total debt of the federal government was $5,727,776,738,304.64. Thus, the total accumulated debt of the federal government was less on the day George W. Bush was inaugurated than the $5,805,754,440,941.62 in additional debt Obama accumulated during his first term.

When Bush left office on Jan. 20, 2009, the total debt of the federal government was $10,626,877,048,913.08. Thus, in George W. Bush’s two terms the total debt of the federal government increased $4,899,100,310,608.44—or by less than the $5,805,754,440,941.62 the debt increased in Obama’s first term alone.

[Excerpt]

Read more:
First Term: Obama Increased Debt $50,521 Per Household; More Than First 42 Presidents in 53 Terms Combined | CNS News

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First Term: Americans ‘Not in Labor Force’ Increased 8,332,000
First Term: Americans ?Not in Labor Force? Increased 8,332,000 | CNS News

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First Term: Americans Collecting Disability Increased 1,385,418—Now 1 for Each 13 Full-Time Workers
First Term: Americans Collecting Disability Increased 1,385,418?Now 1 for Each 13 Full-Time Workers | CNS News

 

[rightwinger]

42?

What happened to 43?

 

[NYcarbineer]

Nothing counts after 2010 when the GOP took over the House.

That's based on the fact that the Right gives Bill Clinton no credit for anything that happened after the GOP won the House in 1994.

And nothing counts against Obama in the first 2 years since he inherited a recession and 2 wars.

That's based on the fact that the Right claims Bush inherited a recession and then had to deal with 2 wars.

 

[Yurt]

great, so you will now hold dems responsible for the economic crash...right NYc?

 

[rightwinger]

Maybe CNS can tell us which Obama programs contributed to the debt?

He must have spent a lot

 

[NYcarbineer]

great, so you will now hold dems responsible for the economic crash...right NYc?

I didn't hold anyone responsible for anything, I was just applying the logic of your nutter pals to the situation.

Good to see you acknowledge that the Right was collectively full of shit in the two cases I cited.