Boehner-Obama Deals Produce $2.5T New Debt in 2 Years; $21,817 Per Household
(CNSNews.com) - The federal debt has increased $2.5 trillion over the past two years, during a time when federal spending has been governed by a series of deals cut between Republican House Speaker John Boehner and Democratic President Barack Obama.
Boehner became speaker on Jan. 5, 2011, when the 112th Congress began its first session. At that time, the federal government was operating under a continuing resolution (CR) passed on Dec. 21, 2010 by the previous Congress.
On March 1, 2011, Boehner and Obama made their first spending deal to provide funding for the government after the then-current CR expired on the March 4, 2011. Since then, consistent with Congress's constitutional authority over spending, all federal spending has been conducted under legislation approved by the Republican-controlled House and agreed to by the Democrat-controlled Senate and President Obama.
At the close of business on March 4, 2011, when the first Boehner-Obama spending deal took effect, the federal debt was $14,182,627,184,881.03, according to the U.S. Treasury. As of the close of business on March 6, 2013, when the Republican-controlled House passed its latest CR, the federal debt was $16,692,238,790,019.20.
That means the federal government's debt has increased $2,509,611,605,138.17 since the first Boehner-Obama deal took effect.
There are now approximately 115,031,000 households in the United States, according to the U.S. Census Bureau. The $2,509,611,605,138.17 increase in the debt since the first Boehner-Obama equals about $21,817 per household.
That means under Boehner-Obama spending deals, federal debt per household has been increasing at a pace of about $10,909 per year.