Tuesday, February 14, 2012

The Obama first term debt: $70,000 per family

At the Weekly Standard, Jeffrey Anderson examines Pres. Obama's newly released budget
Adding all of this up, deficit spending during Obama’s four years in the White House (based on his own figures) will be an estimated $5.170 trillion — or $5,170,000,000,000.00.

To help put that colossal sum of money into perspective, if you take our deficit spending under Obama and divide it evenly among the roughly 300 million American citizens, that works out to just over $17,000 per person — or about $70,000 for a family of four.

I doubt that very many voters would think that they have received $70.000 in value from Obama's deficit spending.  Add to that that his deficits bring the day of reckoning on Social Security and Medicare ever closer and the pain that Obamanomics will cause is clear to see.

The above assumes that Obama's budget numbers are honest which, in all likelihood, they are not.

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