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Obama Has Raised Debt Ceiling Seven Times, Costing $43,000 Per Household

Posted By admin On September 26, 2013 @ 11:11 am In Money Watch | Comments Disabled

Amy Payne
The Foundry [1]
September 26, 2013

Did you know that since President Obama came into office, the debt limit has been raised seven times?

With those increases, Congress has added $43,000 in debt for every American householdin just the last four years.

And now the debt limit deadline is looming again. Treasury will run out of tricks to keep paying the bills on October 17, Secretary Jack Lew announced yesterday [2].

Instead of pursuing significant spending cuts and entitlement reforms that are desperately needed to get spending under control, House Republicans reportedly are proposing to suspend the debt ceiling for more than a year, which would add $1.1 trillion to the debt.

So, take that $43,000 per household that was added in the last four years and tack on another $8,800 per household.

Full story here. [1]


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URL to article: http://www.prisonplanet.com/obama-has-raised-debt-ceiling-seven-times-costing-43000-per-household.html

URLs in this post:

[1] The Foundry : http://blog.heritage.org/2013/09/26/morning-bell-43000-per-household/

[2] yesterday: http://blog.heritage.org/2013/09/25/plan-to-suspend-debt-limit-means-debt-would-rise-to-17-8-trillion/

[3] White House Defends Obama’s Senate Vote against Raising Debt Ceiling But Warns of Catastrophe If GOP Doesn’t Raise Debt Ceiling: http://www.prisonplanet.com/white-house-defends-obama%e2%80%99s-senate-vote-against-raising-debt-ceiling-but-warns-of-catastrophe-if-gop-doesn%e2%80%99t-raise-debt-ceiling.html

[4] Debt Ceiling Likely to be Raised Without Fanfare This Time: http://www.prisonplanet.com/debt-ceiling-likely-to-be-raised-without-fanfare-this-time.html

[5] U.S. Debt Now $136,260 Per Household—Up 50% Under Obama: http://www.prisonplanet.com/u-s-debt-now-136260-per-household%e2%80%94up-50-under-obama.html

[6] Obama: ‘Raising the Debt Ceiling…Does Not Increase Our Debt,’ Though It Has ‘Over 100 Times’: http://www.prisonplanet.com/obama-raising-the-debt-ceiling-does-not-increase-our-debt-though-it-has-over-100-times.html

[7] S & P: America Could Default Even if Debt Ceiling is Raised: http://www.prisonplanet.com/s-p-america-could-default-even-if-debt-ceiling-is-raised.html

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