August 11, 2016
Barack Obama has been president for 90 months and in that time frame, the U.S. Treasury collected nearly $20 trillion in taxes and the federal debt rose by almost half.
Here are the numbers from the Monthly Treasury Statements published at CNSnews.com:
Feb. 2009-Sept. 2009: $1,330,887,000,000
Fiscal 2010: $2,161,728,000,000
Fiscal 2011: $2,302,495,000,000
Fiscal 2012: $2,449,093,000,000
Fiscal 2013: $2,774,011,000,000
Fiscal 2014: $3,020,371,000,000
Fiscal 2015: $3,248,701,000,000
Oct. 2015- July 2016: $2,678,824,000,000
90 Month Total: $19,966,110,000,000
Taking into account the Bureau of Labor Statistics reports that 151,517,000 people were employed as of July this year, the Treasury collected approximately $131,775 per worker, according to the report. The debt incurred per worker equaled $58,051 over the entire Obama administration.
As the report notes, the Treasury’s monthly track record shows it will easily hit the $20 trillion mark before Obama leaves office, needing only $33.89 billion more.
A chart is provided to compare with the previous president, George W. Bush:
This article was posted: Thursday, August 11, 2016 at 4:51 am