When it comes to running up the National Debt, nothing compares to the years of the Obama Administration’s run on the national coffers. If you are a working citizen, your share of taxes and the debt that has been run up is staggering. It is more than the multiple year earnings of almost all Americans. Congress can take their share of the blame, as they are the holders of the purse strings and have authorized all this spending at Obama’s request. This cannot continue. Look at these numbers and be afraid or angry.
As Written By Allen B. West:
If big numbers make your head spin, take a Dramamine before reading this. Also, if you support big government tax policies and spending, this is going to be music to your ears. But for my part, after reading this article, I’m convinced that the principle of taxing our way into prosperity is a flawed belief.
This little cartoon may put this data in perspective.
As reported by CNSNews, “Over the course of the 86 full months that President Barack Obama has completed serving in the White House—from February 2009 through March 2016–the U.S. Treasury has collected approximately $18,764,164,000,000 in tax revenues (in non-inflation-adjusted dollars), according to the Monthly Treasury Statements issued during that period. (President Obama was inaugurated on Jan. 20, 2009.)
That equals approximately $124,003 for each of the 151,320,000 persons who, according to the Bureau of Labor Statistics, had either a full- or part-time job during March 2016.
During the same 86-month stretch of the Obama presidency, the total debt of the federal government increased from $10,632,005,246,736.97 to $19,264,938,619,643.07, according to the Treasury.
That is an increase in the debt of $8,632,933,372,906.10—or approximately $57,051 for each of the 151,320,000 people with jobs as of March. If the Treasury succeeds in collecting the full $3,335,502,000,000 in revenues that the White House Office of Management and Budget estimates it will collect in fiscal 2016 (which will end on Sept. 30), Obama will become the first American president whose Treasury collected more than $20,000,000,000,000 in taxes (in non-inflation adjusted dollars) during his time in office.”
Ok, to save our progressive socialist friends any consternation here is the same analysis for the Bush administration.
“During the first 86 full months that George W. Bush was president (February 2001 through March 2008), according to the Monthly Treasury Statements, the …..