Since 2008 the debt jumped from $9.4 trillion to $17 trillion and will balloon to over $20 trillion by Obama's last flight on AF1.
And by 2020 the number of tax payers and the amount of tax revenue collected will be less than the interest owed on the debt.
Aside from the debt horror we can also assign to Obama the historical stain made by his destruction of the middle-class. How do we know the middle-class is damaged?
- Median household income has declined for five years running and over 10% in total.
- A full 50% live below the poverty line and 60% of kids live in those homes.
- Over 1 million kids are homeless.
- Some 40% of all families have less than $500 in savings.
- Welfare spending is over $1 trillion, more than Social Security and Medicare combined.
- A full 50 million are on Food Stamps.
- Middle-class households have shrunk from 61% to 50% since 1971.
- A grim 35% of households make less than $35k a year.
- Some 80% of households say they live paycheck to paycheck.
- Over 100 million working age adults are out of the workforce entirely.
50% Of Retirement Age Seniors Can't Retire
Where Middle-Class Jobs Vanish Fastest
Jimmy Carter Says Poor In 1980 Resemble Today's Middle-Class
Americans In All 50 States More Conservative Than Since 1954