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Massive national debt stalks every American

September 17, 2012
The Mining Journal

Are you better off than you were when President Barack Obama took the oath of office?

It is a question the White House wil ask Americans, even as the national debt tops $16 trillion.

That works out to about $51,447 each for every resident of the United States.

When the president took office in January 2009, the national debt was $10.6 trillion - or about $34,083 per person.

With his term not yet over, then, the White House, working with liberals in Congress, has added $17,364 in debt for everyone - or $69,456 for a family of four.

The Congressional Budget Office estimates that if Obama remains in office, the national debt by the time he leaves in 2017 will be about $18.4 trillion.

At some point all that debt will have to be repaid, one way or another.

 
 

 

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