Obama's Borrowed More Per Household ($53,616) Than Median Household Earns ($50,502)
Under President Barack Obama, the federal government's debt has increased by an amount per household that exceeds the annual median household income.
Since Obama’s first inauguration on Jan. 20, 2009, the federal debt has climbed $6,167,472,778,984.22. That equals about $53,616 for each of the 115,031,000 households the Census Bureau currently estimates are in the country.
By contrast, the Census Bureau’s most recent estimate of the median household income was $50,502 (for 2011). More
We are so far in debt that there isn't a single economist on the planet that will seriously tell you (and believe it) that there is a hope in hell we'll get out of this. The debt will soon exceed all the value of everything we produce in the USA. Think about that. In the next few years, there will be more people taking than giving. It will be "interest only" payments for a while and then the system will collapse under its own terrible weight. And when we (USA) get there, the rest of the world's economies will fall like drunken dominoes. Picture the chaos and war that will result. It is inevitable and it's too late to stop it. And don't EVER think that our "leaders" don't know that....
of the median household income was $50,502 (for 2011).
Comparing averages to medians. I don't trust this. Nobody who has passed 10th grade math should. This story deserves a better look.
ReplyDeleteWe are so far in debt that there isn't a single economist on the planet that will seriously tell you (and believe it) that there is a hope in hell we'll get out of this. The debt will soon exceed all the value of everything we produce in the USA. Think about that. In the next few years, there will be more people taking than giving. It will be "interest only" payments for a while and then the system will collapse under its own terrible weight. And when we (USA) get there, the rest of the world's economies will fall like drunken dominoes. Picture the chaos and war that will result. It is inevitable and it's too late to stop it. And don't EVER think that our "leaders" don't know that....
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