U.S. Debt Up $1,608,304 for Each Baby Born the Year Obama Took Office
January 20, 2014 - 12:41 PM
By Terence P. Jeffrey
President Barack Obama at his inauguration
President Barack Obama taking the oath of office at this inauguration on Jan. 20, 2009. (AP Photo)
(CNSNews.com) - Under President Barack Obama, the total debt of the U.S. government has increased by approximately $1,608,304 for each of the 4,130,665 babies born in the United States in 2009, the year Obama took office.
Today--Jan. 20, 2009--is the fifth anniversary of Obama’s first inauguration.
If the federal government were to continue accumulating net debt throughout the expected 78.5-year lifespan of a baby born in 2009 at the same average annual pace it has accumulated net debt during Obama’s first five years as president, the government would add more than $104 trillion in net debt during the life expectancy of those babies.
So far during Obama’s presidency, the federal government has borrowed a net total of $6,643,363,305,451.78. That works out to an average of approximately $1,328,672,661,090 per year, or $104,300,803,895,565 over 78.5 years.
The National Center for Health Statistics estimates that the life expectancy of a baby born in the United States in 2009 is 78.5 years.
The $104,300,803,895,565 the federal government would borrow during the lifetimes of babies born in 2009—if the government were to continue to borrow at the annual pace of $1,328,672,661,090 it maintained in Obama’s first five years—would equal approximately $25,250,366 for each of those babies.
At the close of business on Jan. 20, 2009, the day Obama was inauguragted, the total debt of the federal government was $10,626,877,048,913.08, according to the U.S. Treasury. At the close of business on Jan. 16, 2014, the latest day reported, the total debt of the federal government was $17,270,240,354,364.86.
The $6,643,363,305,451.78 that the federal debt has increased during Obama’s first five years equals approximately $1,608,304 for each of the 4,130,665 babies that the National Center for Health Statistics says were born in the United States in 2009. It also equals approximately $321,661 per year over the last five years for each of the babies born in 2009.
(Forty-one percent of those babies born in 2009--or 1,693,658 of them--were born to unmarried mothers, according to the National Center for Health Statistics.)
The $6,643,363,305,451.78 that the federal debt has increased during Obama’s first five years also equals approximately $57,762 for every one of the 115,013,000 households the Census Bureau now estimates there are in the country. It also equals an average of about $11,552 per year per household.
The $6,643,363,305,451.78 the federal debt has increased under Obama is more than all the debt the U.S. government accumulated under all presidents from George Washington through Bill Clinton.
The total debt of the U.S. government first surpassed $6,643,363,305,451.78 on June 30, 2003, when it rose from $6,589,675,806,363.96 to $6,670,121,155,027.26.
Between Jan. 20, 2009 and today, the Obama administration has run up more debt than the U.S. government accumulated from the Declaration of Independence in 1776 through June 29, 2003.
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