Finance

Obamas Credit Card Debt Statement

Written by Tyler Shears on June 17, 2009 11:20 am EST

Sick of hearing about our national debt being higher than ever, and not understanding how?

Take a look at how President Obama has been using tax payer dollars since coming into office. We believe the best way to illustrate this is a statement from the Federal Reserve indicating the amount of credit card debt (national debt) we have generated in just the past 6 months.

Be sure to note that we are less than 10% away from our maximum allowed national debt, and we just gave $2 Trillion to Banks and Wall Street…

(Click image below to view full size image)

The Breakdown

1. Opening Balance - $9.283 Trillion
2. Closing Balance - $11.383 Trillion
3. Credit Limit - $12.104 Trillion
4. Credit Remaining - $721 Billion

Expenses Added to National “Credit Card” Debt

• Investing in Preventative Health Care - $4.1B
• Investing in New Science & Technology - $16B
• Modernizing Schools for Children - $21B
• Failing to Help America’s Auto Industry - $25B
• Creating Alternative Energies - $54B
• Building New Roads & Infrastructure - $90B
• Bailing out the Banks & Wall Street - $2 Trillion!

If you’re interested in solving your own credit card debt issues, or you’d like to learn more about how your tax payer dollars are being used, please leave a comment below or contact me directly!

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