Friday, October 18, 2013

Congratulations: you Owe $123,000

Are you one of the 65% of the workforce that has actually been able to hold on to your job in the Obama economy? Are you heading off to work sometime today? Great! Barack the Terrible has some news for you: The portion of the national debt you are responsible for is $123,000.

The U.S. debt, which has jumped 55 percent under President Obama, is now so high that if working Americans had to pay their full share, the bill would be over $123,000, according to a new Harvard University Institute of Politics study of the nation’s empty bank accounts.
The school's fiscal 2012 Annual Report of the USA, which examines the federal budget, put the total debt at $16.7 trillion. But that's such a big number that the student authors tried to put it in perspective.
For example, that $16.7 trillion, which would go up under Obama’s debt ceiling plan the House and Senate are considering, is equal to:
– About $53,000 per every inhabitant of the United States, including children and the unemployed
Oh yeah: Did I forget to mention that the national debt has increase 55% under Barack the Terrible? Yes, you math whizzes out there, that means that one president in less than five years is responsible for more than half of the $17 trillion national debt. And he's just been given a blank check to increase it exponentially in the next three months. Now get back to work, you've got $123,000 to pay off.

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