Thursday, October 6, 2011

Treasury Department October 2011: Obama national debt more than first 41 presidents combined...

Treasury Department:
As of October 3, 2011 the total national debt was $14,837,099,271,196.71—up about $44.8 billion from September 30, 2011.
On January 20, 2009 the total national debt stood at $10,626,877,048,913.08.
Since January 20, 2009 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 the Obama administration has already borrowed an additional $35,835 for every American household--or $44,980 for every full-time private-sector worker.
[Census Bureau: 117,538,000 US households in 2010]
[Bureau of Labor Statistics: 93,641,000 full-time US private-sector workers]
At the end of January 1993, the month that President George H. W. Bush left office, the total national debt was $4.1672 trillion. 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.
As of October 3, 2011 Obama had been in office 986 days. During that time, 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.
That total national debt did not exceed $6.2 trillion until 2002, when George W. Bush was president.

-excerpts from 10/5/2011 CNS News article by Terence Jeffrey