During Obama’s Presidency,
national debt has grown by $61K per household
Daily Signal – Michael Sargent
– 9/3/2014
Today, the country is
saddled with more than $17.6 trillion of gross debt, an increase of more than
$61,000 per American household during Obama’s presidency alone. Median
household income in the U.S.
is about $51,000. This means that during Obama’s presidency debt per household
grew by more than the typical American family earns in a given year.
The debt increase seen over
the past six years is massive enough to eclipse the entire annual production of
other top economies around the world. The $7.06 trillion added during Obama’s
tenure exceeds the combined
2013 output of Germany
and France, the two largest
economies in Europe.
In order to reverse this
trend, the country needs to seriously address its spending problem, starting
with an evaluation of its biggest culprit: swelling
entitlement programs. Continuing to put off the problem will leave the next
generation more indebted and economically weak than any before it—and that is
not the American way.
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