According to the Monthly Treasury Statements, so far in the 90 full months that President Barack Obama has completed in the highest office in the land with no oversight — February 2009 through July 2016 — the U.S. Treasury collected approximately $19,966,110,000,000 in tax revenues (non-inflation-adjusted dollars).
During those 90 months, the federal debt rose from $10,632,005,246,736.97 to $19,427,694,579,786.64 — which is an increase of $8,795,689,333,049.67.
As of July, the federal government took in $209,998,000,000 in taxes and spent $322,813,000,000 — running a one-month deficit of $112,815,000,000.
That is a staggering amount of debt for just one month.
And so far in fiscal 2016, according to the same report, the federal government has collected approximately $2,678,824,000,000 in taxes and spent approximately $3,192,487,000,000. That is a total deficit of $513,662,000,000 for only the first ten months of the fiscal year.
The Bureau of Labor Statistics reported that there were 151,517,000 people employed in the United States in July and the $19,966,110,000,000 in taxes the Treasury has collected during Obama’s 90 months in office approximately equals a staggering $133,000 per worker.
The $8,795,689,333,049.67 in additional debt the federal government incurred during the same time is approximately $58,000 per worker, which makes for a difference of an insane $75,000.
The Treasury only needs to pull in another $33.89 billion in taxes to reach the $20 trillion mark for Obama’s presidency, which should be a cakewalk for his administration.
On a monthly basis, the $19,966,110,000,000 the Treasury pulled in during his term thus far equals approximately $221,845,666,666.67 per month.
For comparative purposes, during the first 90 full months of George W. Bush’s presidency — February 2001 through July 2008 — the Monthly Treasury Statements report that the Treasury collected approximately $16,048,182,000,000 in taxes.
From February 2001 through January 2009, the Treasury collected $17,251,191,000,000 in taxes. Bush was inaugurated on January 20, 2001 and left office on January 20, 2009, when Obama was sworn in.
The $16,048,182,000,000 in taxes the Treasury collected during Bush’s first 90 full months in office equaled approximately $110,273 for each of the 145,532,000 persons who had a job as of July 2008.
During the first 90 full months of George W. Bush’s presidency, the debt rose from $5,716,070,587,057.36 to $9,585,479,639,200.33 — an increase of only $3,869,409,052,142.97.
The difference between taxes collected and debt figures out to approximately $26,588 in added debt for each of the 145,532,000 persons who had a job as of July 2008.
The following are the monthly figures from Obama’s terms as reported by Monthly Treasury Statements:
- 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
- Total: $19,966,110,000,000
It is infuriating to see how carelessly our tax dollars are being spent and how the American people are not allowed to have any legal recourse or any objection.
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