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

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