U.S. Treasury Collected Nearly $20 Trillion in Taxes During Obama’s Administration
And incurred almost half that number in debt.
Barack Obama has been president for 90 months and in that time frame, the U.S. Treasury collected nearly $20 trillion in taxes and the federal debt rose by almost half.
Here are the numbers from the Monthly Treasury Statements published at CNSnews.com:
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
90 Month Total: $19,966,110,000,000
Taking into account the Bureau of Labor Statistics reports that 151,517,000 people were employed as of July this year, the Treasury collected approximately $131,775 per worker, according to the report. The debt incurred per worker equaled $58,051 over the entire Obama administration.
As the report notes, the Treasury’s monthly track record shows it will easily hit the $20 trillion mark before Obama leaves office, needing only $33.89 billion more.
A chart is provided to compare with the previous president, George W. Bush: