Obama Borrowed More Per Household Than the Average Household Can Repay

obama debt

We no longer have debtor’s prisons, but I have to wonder what happens when an entire nation becomes a debtor’s prison?

(CNSNews.com) – Under President Barack Obama, the federal government’s debt has increased by an amount per household that exceeds the annual median household income.

Since Obama’s first inauguration on Jan. 20, 2009, the federal debt has climbed $6,167,472,778,984.22. That equals about $53,616 for each of the 115,031,000 households the Census Bureau currently estimates are in the country.

By contrast, the Census Bureau’s most recent estimate of the median household income was $50,502 (for 2011).

If the federal government increased taxes sufficiently to confiscate the median household income of every household, it would only take in $5,809,295,562,000.

That $5,809,295,562,000 tax increase would not be enough to pay back the $6,167,472,778,984.22 Obama has borrowed so far on the credit of American taxpayers.

On Jan. 20, 2009, when Obama first took the oath of office, the federal debt was $10,626,877,048,913.08, according to the U.S. Treasury. At the close of business on April 25, 2013, it was $16,794,349,827,897.30.

That says it all and we are far from done. The redistribution engine is moving full steam ahead. The United States is becoming a debtor’s prison for its own citizens in which citizenship is debt.

Welcome to Debtor Nation. Hope and not even change left.

  • Mary Sue

    Oh but never fear, we'll just Tax the Rich™ and get ALL THE MONEYS!!! [/sarcasm]

    Either that or end up being run by China…

  • Moa

    Bill Whittle has an excellent video called "Eat the Rich" where he explains that taxing the rich and other sources for money still won't fix the US deficit problem. The only solution is to cut spending, and the big spending is on entitlement programmes. http://www.youtube.com/watch?v=661pi6K-8WQ

    Oh, and for those that missed it. Bill Whittle gave an excellent speech in 2012 showing what a President who believes their own message sounds like: http://www.youtube.com/watch?v=Wgxlp2UJI5I

    Unfortunately the Republicans don't believe their own message (and the Democrats do, but their message is not grounded in the realities of such things as geopolitical security nor economics).

    It appears there are political calls from the Left to cut spending on defense. The defence budget is large and can probably be trimmed somewhat. I mean, Obama was gifted 14 carrier battle groups by the US population and refuses to use them – not even the one stationed in Mediterranean to save his Embassy staff in Benghazi a few minutes flying time away. Why pay for stuff the President is too weak to use?

    Anyway, the defence budget is around $0.8 TRILLION annually. Estimates of the unfunded liabilities of the US Government entitlement programs (civil service pensions and benefits) seems to be around *$80 TRILLION*. Now one can ask, even if you eliminated the defense budget, how many years would it take to make a big dent in the growing entitlement spending? look for an eliminate political 'pork' in defense for sure, but how about you start with the real budget blowout in the election bribes … er… entitlements instead.?

  • http://www.adinakutnicki.com AdinaK

    It makes perfect sense that Obama Inc is spilling countless red ink, since the end goal is the deconstruction of the economy – http://adinakutnicki.com/2012/08/07/barack-hussei

    The Destroyer-in-Chief…

    Adina Kutnicki, Israel http://adinakutnicki.com/about/

  • http://michellemalkin.com/ wolfeatworld

    ✭✭✭✭✭ I’ll tell you, Barry, what’s shameful:

    That we have a narcissistic racist, white-hating, baby killing, bottom feeding illegal Kenyan manchurian muslim marxist; overly ambitious community organizing, George Soros loving, Long Legged Mack Daddy, serial lying, ethnocentric, dog eating, tyranical, oppressing, dictatorial chain-smoking, arrogant, conceited, callous, over-sensitive to criticism, dishonest, immoral, vindictive, cold, cruel, and dangerous Kenyan Boy anti-christ gay alien bully from the planet Zarrton, in The Office of the President of The United States of America!

    The same office that such esteemed men as Lincoln, Washington, Jefferson and others have held. That we have YOU and that anti-American wife, walking the same halls, sitting and sleeping and eating in the same rooms once occupied by such men, is the true cringe-inducing, shame-inflaming embarrassment for every man, woman and child who loves this country –– and the men and women that built and defended it.

    THAT’S ► what’s shameful, Barry.

    Tell me now –– am I lying?

    • Mary Sue

      Obama is a celebrity president. Much like Clinton, only worse.

    • Fesisty Hayseed

      Remove "anti-christ", "alien", and "from the planet Zarrton" and You Nailed it! Every other descriptive word and phrase is True, but I think that the key to to it all is Obama's Narcissistic Personality Disorder which is, IMHO, of an extreme class shared by very few (Bill and Hillary, John Kerry, come readily to mind). :-0 I think Obama adopted the Democratic Socialist / Marxist worldview simply because that was the stew that he grew up in simmering in.

      From the Encyclopedia of Mental Disorders – "Unfortunately, narcissists in positions of high visibility or power … often do great harm to others."

      Read more: http://www.minddisorders.com/Kau-Nu/Narcissistic-

  • owmyballs

    Are you still glad you didn’t vote for Romney?