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What Does $40,000 Mean to You?

Obama has been running around all day making a fool of himself as he promotes his $40 Social Security tax cut.  Yes, the tax plan that will create a new class warfare Social Security Taxable Wage limit in order to accommodate his totally unworkable two-month extension.  Obama has even set up a new web page asking people “what $40 per paycheck would mean to you.”

Republicans should respond by setting up a web page asking every taxpayer to explain how a $40,000 increase in their share of debt will affect their finances and those of their grandchildren.

You see, while the media has been focusing on Obama’s two-month Social Security tax cut, they have ignored another big story.  Our national debt has surpassed 100% of GDP.  With Q3 GDP revised downward, our economy now stands at $15.081 trillion.  Our total federal debt is over $15.14 trillion.

How much of that debt is Obama responsible for?

When Obama took office, the total federal debt stood at $10.6 trillion.  Obama’s share of the debt increase is roughly $4.5 trillion.  There are approximately $112.7 million taxpayers.  That means that the individual share of the Obama debt is about $40,000.

So while Obama is bragging about his $40 tax cut, he is obfuscating the fact that he is increasing more entitlement spending along with the package.  This will only increase the $40,000 share of debt for every taxpayer.

We know that $40,000 is not much for the commander-in-chief of all class warfare, but what does it mean for you?

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