Obama's Borrowed More Per Household ($53,616) Than Median Household Earns ($50,502)

CNS News ^ | 4/26/13 | Terence P. Jeffrey

[Nachum]

(CNSNews.com) - 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).

[Nachum]

The list, Ping

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[Slyfox]

Essentially, Obama is taking out credit cards in our names and running them up without our expressed consent.

Isn't that identity theft?

[Daveinyork]

It’s not politics. It’s arithmetic.

[Opinionated Blowhard]

The spending spigot is open full blast and Obama is now taking a hammer and trying to knock the spigot off so the water gushes out. Despite our debt problem, he’s made it easier to get SSI disability and is actually hiring marketers to recruit people to sign up for food stamps and Welfare. Its a very deliberate plan to get as many people as possible hooked on the heroin of transfer payments. And it is destroying the country.

[Buckeye McFrog]

Raise Minimum Wage. Problem Solved! /sarc

[theBuckwheat]

So, despite all the limits on government through the 13 enumerated powers that strictly restrain it, one power that the Founding Fathers neglected to restrain was the power to place citizens in infinite debt. In essence we are being made debt serfs because the money printing and credit emission of government is gradually encumbering all our assets and incomes.

So, we may think of ourselves as being free people, but government must impose increasingly pervasive reporting and filing requirements in order to collect all the taxes it must levy in order to service the debt. But the debt has grown to such a level that even taxing all income cannot hope to service it.

Worse, we have allowed government to seize control is issuing money (as opposed to just regulating what money we choose to use), and in order to service both the debt and the financial obligations, it has become addicted to debasing the official currency.

Government cannot allow citizens to escape its financial and tax system because it cannot compromise its ability to service the debt.

When we call for a Constitutional Convention, the topic of how debt encumbers and destroys liberty must be a primary topic.

[sheana]

Obama can’t do anything without consent of the House. They control the purse strings.

[Cheerio]

Obama can’t do anything without consent of the House. They control the purse strings.

EXACTLY CORRECT! The GOP-e LED HOUSE is every bit as responsible as the clown in the White Hut. I have been harping on this for 2+ years now. How many Continuing Resolutions has Boner given us without defunding Obamacare (or PBS, NPR, Planned Parenthood, etc.)? How many debt ceilings has Boner and the GOP gang given us without any - or very few - defuning actions? With Boner and the boys holding a Royal Flush when it comes to appropriations, he has mostly joined the RATs and continued ENABLING WH CLOWN. The muzzie in the WH cannot spend one single CENT without the appropriations that must start in the HOUSE. What happened to all the challenges that were going to be launched agianst Boner as Weeper in the 113th?

Each time the GOP-e LED HOUSE had a chance to restrain the Obozo, they fold and tell us "This is not the fight we want - wait until (fill in the blank) and then we will really OBSTRUCT". Fool me once, shame on you, fool me twice, shame on me.

I don't know about anyone else on FR but I am done with the GOP - registered as a "I" in 2006 after GWB lost the Congress after he refused to defend ANY of his actions or policies. The GOP will never see me again in this life time (I was a lifelong Republican since 1960).

[sheana]

I changed my registration after GWB’s “See you at the signing”.

[Slyfox]

Obama can’t do anything without consent of the House.

That must be news to Nobama.

[GOPJ]

The country’s broke... really.