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An $8 Trillion Thanksgiving?

Thursday November 26th, 2015   •   Posted by Craig Eyermann at 5:49am PST   •  

6215348_S Today is Thanksgiving Day, 2015. Today also marks a grim milestone for the growth of the U.S. national debt under President Obama, as it is now over $8 trillion higher than it was on the day he was sworn into office on Tuesday, January 20, 2009.

Back then, the total public debt outstanding stood at $10.6 trillion. Today, it is $18.7 trillion, having increased at an average rate of $1.16 trillion per year during each year of President Obama’s tenure in office.

Terrence Jeffrey of CNS News calculates some other numbers of note to consider this Thanksgiving:

On Jan. 20, 2009, when Obama was inaugurated, the total debt of the federal government was $10,626,877,048,913.08. On Nov. 23, 2015, it was $18,722,746,583,118.03 Thus, so far in Obama’s presidency, the federal debt has increased $8,095,869,534,204.95.

As of September, according to the U.S. Census Bureau, there were 117,748,000 households in the United States. The $18,722,746,583,118.03 in federal debt equals $159,006.91 for each one of those households.

The $8,095,869,534,204.95 that the debt has increased under Obama equals about $68,755.90 for each one of those households.

Imagine if you had gone out and accumulated an extra $68,756 in debt over the last seven years, above and beyond the amount that you may have borrowed for all your other debts, including your family’s mortgage, car loans, credit cards, student loans, et cetera.

If you had, wouldn’t you and your household would have something more positive to show for having borrowed so much more than whatever it was that the U.S. government spent all that additional money upon over the last seven years?

On this Thanksgiving Day, where we pause to give thanks for whatever blessings of abundance we’ve enjoyed over the past year, if any American can answer “Yes, we would” to the question above, then the phenomenal growth of the U.S. national debt over the last seven years without a more positive result is one kind of abundance that should never be counted among our real blessings.

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November 2015