President Barack Obama had only been in office just over a month when the tea party came into being. The grassroots “awakening” began in late February 2009, and it was centered around fiscal responsibility, limited government and free market principles.
So how did “we the people” do?
As for fiscal responsibility, Obama has increased the federal government’s debt by a greater amount than the annual median household income.
Since Obama first came into office, according to CNS News. the federal debt has climbed $6.16 trillion. An amount equal to $53,616 for each of the 115 million households the U.S. Census Bureau estimates are in the country.
By contrast, CNS News reports, the Census Bureau’s most recent estimate of the median household income was $50,502 (for 2011). Which means if Obama taxed every household in America an additional $50,000, he could not repay what has been borrowed under his administration.
The federal debt was $10.6 Trillion when Obama first took the oath of office, and as of April 25, 2013, it was $16.8 Trillion.
In addition to the increased spending, the number of federal employees grew by 123,000, or 6.2%, under Obama, according to the White House’s Office of Management and Budget. And, Forbes just ran an article in February detailing the surge of small business regulations that has occurred on his watch.
So it’s a fair question to ask; has the tea party focus on fiscal responsibility, limited government and free market principles really been effective?
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