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For Every $1 Added to the Economy, Obama Added More Than $3 in Debt

Posted By admin On September 17, 2012 @ 1:33 pm In Money Watch,Tile | Comments Disabled

Fox Nation [1]
September 17, 2012

Since Obama has taken office ….
[through Q2 2012 for comparative purposes]

–> For every $1 added to the economy, we’ve added more than $3 in debt

–> added $5.23 trillion in debt vs. $1.68 trillion to the economy
–> 50% increase in debt vs. 12% increase in economic output

Total Public Debt:

$10,626T [Jan 20, 2009]
$15,856T [Jun 30, 2012]

–> $5.23 trillion increase in debt

[source: Treasury Dept]

……

GDP

$13,923T [Q1 2009]
$15,606T [Q2 2012]

–> $1.68 trillion increase in GDP

[source: BEA]


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URL to article: http://www.prisonplanet.com/for-every-1-added-to-the-economy-obama-added-more-than-3-in-debt.html

URLs in this post:

[1] Fox Nation: http://nation.foxnews.com/government-spending/2012/09/17/every-1-added-economy-obama-added-more-3-debt

[2] Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data: http://www.prisonplanet.com/obama-added-more-to-national-debt-in-first-19-months-than-all-presidents-from-washington-through-reagan-combined-says-gov%e2%80%99t-data.html

[3] U.S. Added More Debt Monday Than From 1776 Through Pearl Harbor: http://www.prisonplanet.com/u-s-added-more-debt-monday-than-from-1776-through-pearl-harbor.html

[4] US Debt/GDP Hits Post WW2 High 99.5% Following $55 Billion Overnight Debt Increase: Total Debt Now Over $15.1 Trillion: http://www.prisonplanet.com/us-debtgdp-hits-post-ww2-high-99-5-following-55-billion-overnight-debt-increase-total-debt-now-over-15-1-trillion.html

[5] In Q2 America Added $2.33 In Debt For Every $1.00 In GDP: http://www.prisonplanet.com/in-q2-america-added-2-33-in-debt-for-every-1-00-in-gdp.html

[6] U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama: http://www.prisonplanet.com/u-s-debt-held-by-public-tops-10t-for-1st-time%e2%80%94up-59-percent-under-obama.html

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