In the first 19 months of the Obama administration, the federal debt “held by the public” increased by $2.5260 trillion. (Source)
This works out to $22,158 of new federal debt added for each and every US household. How is that calculated? Lets do the math:
- $2,526,000,000,000 / 114,000,000 US households = $22,158 per US household
When President Barack Obama took the oath of office on Jan. 20, 2009, the total federal debt held by the public stood at 6.3073 trillion, according to the Bureau of the Public Debt, a division of the U.S. Treasury Department. As of Aug. 20, 2010, after the first nineteen months of President Obama’s term, the total federal debt held by the public had grown to a total of $8.8333 trillion, an increase of $2.5260 trillion.
“Debt held by the public,” includes U.S. government securities owned by individuals, corporations, state or local governments, foreign governments and other entities outside the federal government itself.