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’smost recent estimate of the median household income was $50,502 (for 2011).
If the federal government increased taxes sufficiently to take from the private sector the equivalent of $50,502 for every household in the country—that is, an amount that equals the median household income multiplied by the total number of households ($50,502 x $115,031,000), it would only take in $5,809,295,562,000.
