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Friday, August 12, 2016
Obama already has collected nearly $20 trillion in taxes
It's a grim milestone.
During the 90 full months President Barack Obama has completed serving in the White House-February 2009 through July 2016--the U.S. Treasury collected approximately $19,966,110,000,000 in tax revenues (in non-inflation-adjusted dollars), according to the Monthly Treasury Statements. (snip)
The Treasury only needs to pull in another $33.89 billion in taxes to reach the $20 trillion mark for Obama's presidency. (The $19,966,110,000,000 the Treasury pulled in during the first 90 full months of Obama's presidency equals approximately $221,845,666,666.67 per month).
All the worse because he is spending about $9 trillion more, funded in large part by the Federal Reserve, also known as printing money. Sums of money so vast that the ordinary mind cannot comprehend them.
CNS News has put together the data on Obama's taxes and spending. When data is presented graphically, certain trends become visible.
Also helpful is breaking down these figures into per capita information:
Given that the Bureau of Labor Statistics has reported that there were 151,517,000 people employed in the United States in July, the $19,966,110,000,000 in taxes the Treasury has collected during Obama's first 90 full months in office equals approximately $131,775 per worker.
The $8,795,689,333,049.67 in additional debt the federal government incurred during Obama's first 90 full months in office equals approximately $58,051 per worker.