If you are under 18, better start saving those pennies now. Congratulations, you owe $218,676. And no, it isn’t President Bush’s fault.
CNS News reports this figure that reflects the amount needed to pay off the entirety of the federal government’s debt.
During the time Barack Obama has been president, the U.S. government debt has increased from approximately $143,255 per American under 18 to approximately $218,676 per American under 18–a climb of $75,421 or about 53 percent.
As of Nov. 1, the total national debt was $16,221,685,381,838.28, according to the Bureau of the Public Debt. On Jan. 20, 2009, when Obama was inaugurated, it was $10,626,877,048,913.08. Thus, during Obama’s presidency, the U.S. government debt has increased $5,594,808,332,925.20.
The 2010 Census said there were 74,181,467 people in the United States under the age of 18. Thus the total U.S. government debt of $16,221,685,381,838.28 equals about $218,676 per person under 18, and the $5,594,808,332,925.20 in new debt accumulated under Obama equals about $75,421 per person under 18.
Guess you can kiss four years at that good college you want to attend good-bye.
So what about the rest of us over 18?
As of September, CNS found that:
The U.S. government debt, which topped $16 trillion… now equals approximately $136,260 for every household in the country.
Just since President Barack Obama was inaugurated on Jan. 20, 2009, the debt has increased by $45,848 per household—or about 50 percent per household.
All that money and what have we gotten for it? Do you see roads fixed? Do you see more interstate highways built? Has the power grid been improved? Are we better protected? Have schools improved? Are there more people graduating from high school who actually know how to read? Exactly what improvements have been made with all that stimulus money?
All we got was more debt and should Obama win, all we will get will be more taxes.