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$7,060,259,674,497.51--Federal Debt Up $7 Trillion Under Obama


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The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president.

That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation's existence--from 1776 through 2003.

The total federal debt first passed the $7-trillion mark on Jan. 15, 2004, after President George W. Bush had been in office almost three years.

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.

The median household income in the United States in 2012 (the latest year estimated) was $51,017. Thus, President Obama has increased the federal debt by more than the typical household’s annual income.

Edited by Dirtybirdn@tion
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We are going to be some broke azz home clowns if the rest of the world drops the dollar standard .....

And I doubt that the world would once again be willing to take the hit for an American made crash. The US is living badly above its means for at least 15 years now and it is just a matter of time until the whole thing crashes for good or someone having the guts to stop the madness and tells the current generations that the happy paradise days are over. But knowing my Amrican friends, I think they will ride the debt train to the very last day possible.

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And I doubt that the world would once again be willing to take the hit for an American made crash. The US is living badly above its means for at least 15 years now and it is just a matter of time until the whole thing crashes for good or someone having the guts to stop the madness and tells the current generations that the happy paradise days are over. But knowing my Amrican friends, I think they will ride the debt train to the very last day possible.

There are too many people who are content with the way things are. Too many of the younger folks seem to be ok with the fact that our government becomes increasingly invasive and determinant, and even further invite it. There is so much waste and too little done about it. It seems as though the number of people who take pride in our liberties decreases daily and the number of people who wish to leach increases. Government scraps handed out to Quell the unintelligent, and make them believe their best interest is in mind, all the while they spend unfathomable amounts of our money on whatever they please. I wonder if people really grasp the fact that we are in trouble unless things change.

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There are too many people who are content with the way things are. Too many of the younger folks seem to be ok with the fact that our government becomes increasingly invasive and determinant, and even further invite it. There is so much waste and too little done about it. It seems as though the number of people who take pride in our liberties decreases daily and the number of people who wish to leach increases. Government scraps handed out to Quell the unintelligent, and make them believe their best interest is in mind, all the while they spend unfathomable amounts of our money on whatever they please. I wonder if people really grasp the fact that we are in trouble unless things change.

I think young people might be afraid they'll be ostracized for criticizing a Democrat or even Liberalism in general. Lefties have become some mean sumsabitzhes to those who don't agree :D

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I think young people might be afraid they'll be ostracized for criticizing a Democrat or even Liberalism in general. Lefties have become some mean sumsabitzhes to those who don't agree :D

Tell me about it. Every time I go to Target and don't buy my 3 year old a toy she feels like the world is ending and throws a temper tantrum. Sucks when you aren't given things for just being.

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I think the suggestion that Americans somehow feel entitled to being cared for while doing nothing has little merit. When you look at most available metrics, Americans are working more and being paid less than at most times in our history.

I also think it's pretty short-sighted to suggest, in the same breath, that the economy is doing poorly, and then complain that the social safety net is being stretched thin. The social safety net is pressed most when the economy struggles. It stands to reason that after the worst recession in 75 years, that more Americans will need more help. GDP is high, the Dow is high, and corporate profits are high. All of these things generally indicate a healthy economy. Why is the economy not healthy? Because of the income gap.What can we do to address that? Efforts to increase the top marginal rate are discarded as 'socialism', and efforts to increase the minimum wage are scoffed at. Quite literally, we ensure that the problem will continue by casting aside all available remedies, and then castigate members of society for our own poor economic policy.

I think capitalism in America is irreparably broken, and I think most of us just can't handle that.

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There are too many people who are content with the way things are. Too many of the younger folks seem to be ok with the fact that our government becomes increasingly invasive and determinant, and even further invite it. There is so much waste and too little done about it. It seems as though the number of people who take pride in our liberties decreases daily and the number of people who wish to leach increases. Government scraps handed out to Quell the unintelligent, and make them believe their best interest is in mind, all the while they spend unfathomable amounts of our money on whatever they please. I wonder if people really grasp the fact that we are in trouble unless things change.

Alternatively they simply don't like or trust the current GOP and instead of changing to account for this a lot of Republicans just whine that they aren't liked and that the younger generations are evil.

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I think the suggestion that Americans somehow feel entitled to being cared for while doing nothing has little merit. When you look at most available metrics, Americans are working more and being paid less than at most times in our history.

I also think it's pretty short-sighted to suggest, in the same breath, that the economy is doing poorly, and then complain that the social safety net is being stretched thin. The social safety net is pressed most when the economy struggles. It stands to reason that after the worst recession in 75 years, that more Americans will need more help. GDP is high, the Dow is high, and corporate profits are high. All of these things generally indicate a healthy economy. Why is the economy not healthy? Because of the income gap.What can we do to address that? Efforts to increase the top marginal rate are discarded as 'socialism', and efforts to increase the minimum wage are scoffed at. Quite literally, we ensure that the problem will continue by casting aside all available remedies, and then castigate members of society for our own poor economic policy.

I think capitalism in America is irreparably broken, and I think most of us just can't handle that.

The top 10% already bear 68% of the tax burden as it is. Meanwhile, the lower 50% pay nothing (and that includes half of the middle class already). It's not the capitalism is broken, it's that it's been corrupted. Entirely too many programs, involvement in affairs that we should be involved in. Pushing college for everyone when not everyone should or needs to go to college, pushing businesses to leave and set up shop elsewhere. Good example is Social Security. It was set up poorly from jump. The first recipient paid in $24.75 yet collected over $22k in benefits. If you look into it most of the programs are set up in a "pay for it later" manner. It's irresponsible and now it's time to pay the piper. It's been pushed off and pushed off to the point that it can't simply be put off anymore. Raising taxes isn't a viable option. Sure, you can do it but then you'll start seeing even more businesses relocate and you'll bring in far less. The tax system needs overhauled completely and in a way that puts more people in the revenue [word meaning small running water source]...

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The main thing wrong with our economy is the pigs in power who spend billions of dollars of American workers tax money on unnecessary "things". Instead of taking so much from hard working people, why not let that money stay in the hands of the people who have earned it and allow them to use it to create economic growth. Stop sending money to other countries, stop using our resources when we need them. America has a huge government leach on its Back sucking it dry. instead of suggesting minimum wage be increased,(the suggestion of increasing minmum wage is a fasaud put on by the government to divert attention from the real problem, THEY TAKE TOO MUCH).To suggest that it is the American people's fault is ridiculous, the only thing people need help with is remedying the problem we have with thieves in Washington. They are the reason we are on the verge of financial ruin.

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The top 10% already bear 68% of the tax burden as it is. Meanwhile, the lower 50% pay nothing (and that includes half of the middle class already). It's not the capitalism is broken, it's that it's been corrupted. Entirely too many programs, involvement in affairs that we should be involved in. Pushing college for everyone when not everyone should or needs to go to college, pushing businesses to leave and set up shop elsewhere. Good example is Social Security. It was set up poorly from jump. The first recipient paid in $24.75 yet collected over $22k in benefits. If you look into it most of the programs are set up in a "pay for it later" manner. It's irresponsible and now it's time to pay the piper. It's been pushed off and pushed off to the point that it can't simply be put off anymore. Raising taxes isn't a viable option. Sure, you can do it but then you'll start seeing even more businesses relocate and you'll bring in far less. The tax system needs overhauled completely and in a way that puts more people in the revenue [word meaning small running water source]...

Translation: "Poor people need to pay higher taxes and rich people need to pay less taxes."

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