Gov’t Has Borrowed an Additional $29,660 Per Household Since Obama Signed Stimulus

February 17, 2011 - 7:33 PM

President Barack Obama

President Barack Obama speaks at the U.S. Chamber of Commerce in Washington, Monday, Feb. 7, 2011. (AP Photo/Charles Dharapak)

(CNSNews.com) - The federal government has borrowed an additional $29,660 per household in the United States since President Barack Obama signed his economic stimulus law two years ago.

That brings the total national debt to $125,475.18 per household.

At the close of business on Feb. 17, 2009, the day Obama signed the $787-billion law, the national debt stood at $10.79 trillion ($10,789,783,760,341.41), according the Bureau of the Public Debt. At the close of business on Feb. 16, 2011, the national debt stood at $14.13 trillion ($14,129,889,690,377.50)—an increase of $3.34 trillion (3,340,105,930,036.09)

The U.S. Census Bureau estimates that there are a total of 112,611,029 households in the United States, which average about 2.6 people per household. That means that the new debt accumulated in the two years since Feb. 17, 2009, when President Obama signed his economic stimulus law, equals about $29,660.55 per household.

The current total national debt of $14.13 trillion can be divided into equal portions of $125,475.18 for each of the 112,611,029 households in the country.