With the additional $231,327,000,000 in taxes that the U.S. Treasury collected in August, according to the Monthly Treasury Statement released today, President Barack Obama has now presided over more than $20,000,000,000,000 in federal tax collections during the 91 full months he has served in the Oval Office.
From February 2009 through August 2016, the Treasury collected approximately $20,197,437,000,000 in tax revenues (in non-inflation-adjusted dollars), according to the Monthly Treasury Statements.
During those same 91 months, the federal debt rose from $10,632,005,246,736.97 to $19,510,296,242,765.66—an increase of $8,878,290,996,028.69.
In August, according to the Monthly Treasury Statement released today, the federal government took in $231,327,000,000 in taxes and spent $338,438,000,000—running a one-month deficit of $107,112,000,000.
So far in fiscal 2016, according the Treasury statement, the federal government has collected approximately $2,910,151,000,000 in taxes and spent approximately $3,530,922,000,000—running a deficit of $620,771,000,000 for the first eleven months of the fiscal year.
Given that the Bureau of Labor Statistics has reported that there were 151,614,000 people employed in the United States in July, the $20,197,437,000,000 in taxes the Treasury has collected during Obama’s first 91 full months in office equals approximately $133,216 per worker.
The $8,878,290,996,028.69 in additional debt the federal government incurred during Obama’s first 91 full months in office equals approximately $58,559 per worker.
During the first 91 full months George W. Bush was president (February 2001 through August 2008), according to the Monthly Treasury Statements, the Treasury collected approximately $16,205,198,000,000 in taxes. During those same 91 months, the debt rose from $5,716,070,587,057.36 to $9,645,725,555,640.02—an increase of $3,929,654,968,582.66.
From February 2001 (the first full month of George W. Bush’s presidency) through January 2009 (the month that Bush left office and Obama was inaugurated), the Treasury collected $17,251,191,000,000 in taxes.
Here, according to the numbers published in the Monthly Treasury Statements, are the total receipts the Treasury has brought during the 91 full months President Barack Obama has completed in office:
Feb. 2009-Sept. 2009: $1,330,887,000,000
Fiscal 2010: $2,161,728,000,000
Fiscal 2011: $2,302,495,000,000
Fiscal 2012: $2,449,093,000,000
Fiscal 2013: $2,774,011,000,000
Fiscal 2014: $3,020,371,000,000
Fiscal 2015: $3,248,701,000,000
Oct. 2015- August 2016: $2,910,151,000,000
91 Month Total: $20,197,437,000,000