All of us will be forced to pay for President Obama’s record-setting budget increases-as will our children and grandchildren.
By 2019, President Obama’s budget will have added over $9.4 trillion to the federal debt.
American will be responsible for not only paying the principal on President Obama’s budget, but will also have to shoulder the interest payments.
* If you’re a 50-year old-with a college degree, you will pay approximately $81,000 over your working life just to pay the interest on the debt in the Obama budget.
* If you’re a 40-year-old, you’ll pay $132,000.
* And if you’re a 20-year-old, just starting out after college, you will pay a whopping $114,000 just to service the interest on the debt created by the Obama budget.