Obama’s First 7 Years: Debt Skyrockets to $8,314,529,850,339.07, or $70,612.91 Per Household

Debt Under Obama Is Overwhelming

The current debt held by the feds has risen to $18,941,406,899,252, or $70,613 per household, a sum greater than all other presidents combined in the history of the country.

No one could run their personal finances like this. It is essentially impossible for the country to pay this debt off, and if unfunded liabilities such as public pensions are counted, the debt is closer to $50 or $60 trillion dollars. The problem is that The U.S. can print its own money and borrow from itself, so the giveaways to big business, to government workers, to welfare recipients, and to anyone whose vote can be purchased means that politicians on both sides of the aisle have a vested interested in growing the bureaucracy and increasing the debt.

The spending continues to ratchet up, and the next step for the politicians is to encourage inflation, because that will cheapen the dollars that will be required to pay back the debt. Paying back a $100 debt with $100 in face value currency that is really only worth $50 means that the debt will be liquidated more quickly and cheaply, but that will not fix the problem because it is clear that the politicians are addicted to spending and increasing taxes so that they can service the interest on the debt.

The only real solution is to clean out the rats nest in Washington D.C. and bring in citizen patriots who do not owe every interest group in town. We are building a house of cards, and it will inevitably fall. While there is one candidate for this years presidential election that is well known for lying, it turns out that the whole clan of politicians in Washington is as crooked as they come. Get rid of them all, and get back to managing the nation like an honest business.

Source:cnsnews.com