Posted: September 4, 2012 in Uncategorized
“The
Treasury Department said Tuesday that the federal government has now
officially topped $16 trillion in debt,” reports the Washington Times.
“The
announcement, which came just an hour before Democrats gaveled in their
convention in Charlotte, N.C., to renominate President Obama for another
four-year term, immediately boosted the government’s grim fiscal picture back
to the fore of the national debate.
Debt has risen at a meteoric pace
under Mr. Obama — in less than four years in office he has already
eclipsed President George W. Bush’s eight years.”
Meanwhile, a U.S. News & World Report story
in August revealed that the federal government is spending some $41,210 every
second more than it takes in in revenue.
As I write
in Implosion,
this is absolutely unsustainable. Will anyone stop this madness before
it’s too late? - Joel Rosenberg
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U.S. Debt Now $136,260 Per Household—Up 50% Under Obama
September
4, 2012
(CNSNews.com) -The U.S. government debt, which
topped $16 trillion for the first time at the close of business on Friday, now
equals approximately $136,260 for every household in the country.
Just since President Barack Obama was inaugurated
on Jan. 20, 2009, the debt has increased by $45,848 per household—or about 50
percent per household.
As of Friday, the debt was 16,015,769,788,215.80.
According to the Census Bureau, there were approximately 117,538,000 households
in the country in 2010. Thus, the current debt equals about $136,260 per
household.
When President Obama was inaugurated in 2009, the
debt was 10,626,877,048,913.08 and has since increased by 5,388,892,739,302.72.
That equals an increase of about $45,848 per household.
