Friday, August 12, 2011

National Debt After Each Administration - 1976 to present

(note: this article is periodically updated just to keep the data current)

The national debt, per capita after each Presidential administration [election year] from Ford (1976) to Obama (Present):

(figures are approximate)

1976 After Gerald Ford  - $2,844
1980 After Jimmy Carter  - $4,352
1988 After Ronald Reagan  - $12,000
1992 After George HW Bush  - $15,875
2000 After Bill Clinton  - $20,121
2008 After George W. Bush  - $31,600

2012 After Obama (1st term)  - $52,300 [and still counting]

2014 Obama 2nd mid-term (Dec) -  $57,067      [total of $18.039 Trillion and still counting]
2016 Obama (Sep 2016) - $61,442 [total of $19.5 trillion an still counting, $160,000 per family]

The debt debate is nothing new. It is not an Obama problem. It is not a Democrat or Republican problem. The two major political cults (parties) have held hands in the spirit of "compromise" for decades to send us over this cliff.

And "compromise" is a code word that a lot of people like but it really means that both sides will "compromise" the principles of those that elect them in order to say they accomplished something.

Dave Ramsey was recently quoted in a snippet that went viral on Facebook, "‎"If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year & have $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand."

I think it is important to point out that Dave left out the $2,000,000 mortgage that this family has (we get this by looking at the additional $90 trillion in "future obligations" that our government already calculates it has committed to).



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