Federal Debt Up More Than $7 Trillion, Or $61K Per Household, Under Obama

Since President Obama took office the federal debt has increased by more than $7 trillion, which is a whopping $61,341.82 per household. CNS News has the details:

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.

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. (Read More)

That’s $10,000 more than the median household income in the United States.

Hey, remember when Obama said it was unpatriotic and irresponsible of Bush to raise the national debt by $4 trillion? No? Well, here it is again.