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


US Politics & Gov't  (tags: congress, crime, democrats, ethics, government, news, obama, usa )

Carol
- 577 days ago - cnsnews.com
(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



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Carol Dreeszen (364)
Monday January 21, 2013, 4:02 pm
(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.

On Oct. 11, 2001, during Bush’ first year in office, the debt rose from $5,805,746,196,414.92 to $5,811,762,115,860.32. Since then it has never dipped below $5,805,754,440,941.62 (the amount the debt increased in Obama’s first term).

Thus, the debt increased more in Obama's first term than it did during the combined 53 terms of the first 42 presidents (George Washington through Bill Clinton).

President Obama is currently demanding that Congress increase the legal limit on the federal debt without making him agree to corresponding cuts in federal spending.
 

Roseann D. (178)
Monday January 21, 2013, 4:20 pm
No mention there of BushCo's role in racking up the majority of that $5.8 trillion. How convenient! We were also already in a nose-dive when Obama took office. Climbing out of such a nose-dive....when you are already on a trajectory crash course takes some powerful piloting! Thanks Obama for catching us before BushCo's crash landing.
 

Allan Yorkowitz (452)
Monday January 21, 2013, 4:35 pm
Thank you to those whose who voted for this man.
 

Carol Dreeszen (364)
Monday January 21, 2013, 9:12 pm
Roseann...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.

On Jan. 20, 2009, when Obama was first inaugurated, the total debt of the federal government was $10,626,877,048,913.08,

$5,727,776,738,304.64......if you subtract the lower one from the above one you will have your answer...so nothing is hidden..you just have to LOOK!!!
 

Carol Dreeszen (364)
Monday January 21, 2013, 9:13 pm
STOP BLAMING BUSH...that is hypocritical and avoiding the responsibility of accepting YOUR Presidents administrations FAILURES!
 

Carol Dreeszen (364)
Monday January 21, 2013, 9:17 pm
We were also already in a nose-dive when Obama took office. Climbing out of such a nose-dive....when you are already on a trajectory crash course takes some powerful piloting!

And he did such a GREAT job of it didn't he Roseann!!!

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.

I would highlight that for you if I could but I can't just to make sure you SEE what an awesome job he did of pulling us out of that mess! Dang..he's good isn't he!?
 

Carol Dreeszen (364)
Monday January 21, 2013, 9:21 pm
Oh Stella..You are so wrong!!! So..So..wrong! There is too much there about his policies that would take 4 years to go over to describe the destruction and disasters about them and I just do not have the energy to talk about his failures!! Sorry..if you can't see them then I could explain for 8 years and it still would not help you see them!
 

Jae A. (323)
Tuesday January 22, 2013, 1:54 am
Well perhaps the next Democrate or perhaps a Green or Justice party President that will occupy the White House after the 2016 election will be more to the rightwings liking.

When in debt to the extent that we were, the day Obama took office, of course the debt will be greater...the borrowing must continue if the nation is to keep the wheels turning and then there's the interest upon that borrowed amount..which is a part of the debt. This is not news..is basic accounting/bookkeeping. It's a fricken given under the circumstances that he began his first term with.
 
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