Debt Hits $16 Trillion

September 12th, 2012 | by Sqotty |

Obama’s Number 1!

Yes, that’s right folks. Barack Obama is Number 1 – in driving our country further into debt, even surpassing the record set by his predecessor, George W. Bush.

According to the Federal website, treasurydirect.gov, the national debt stood at a STAGGERING $16.015 TRILLION.

To put this in perspective, on January 20th, 2009, when Obama took office the national debt stood at $10.626 TRILLION, which is also an immense amount. Okay, this is simplifying the matter, but to keep things as an apples to apples comparison, and trying to be fair to Obama, on January 20th, 2001, when Bush took office, the national debt was a whopping $5.728 TRILLION. One last data point from the treasurydirect, is that when Clinton took office on January 20th, 1993, the national debt was $4.188 TRILLION.

Doing a little simple math, under Clinton, the national debt rose $1.54 TRILLION, not a small amount, over 8 years (note – Congress, at least the House of Representatives, had a GOP majority, helping rein in spending). Bush (with, I might add, two wars to fight, 9/11 aftermath to deal with, and a Democratically controlled congress the last few years of his administration) definitely topped Clinton, with $4.898 TRILLION, nearly, but not quite, doubling the national debt over 8 years. And I was livid about the national debt level back in ’92! Now we get to Obama, with a little over 3 years and 7 months in office, and the national debt, under his watch going up an obscene (especially for under 4 years, with two years of Congress controlled by the Democrats, and 1 year and a half and change where the Senate was still controlled by the Democrats while the House was controlled by the Republicans) $5.389 TRILLION.

For a little clarity – 8 years under Bush, the debt increased $4.898 TRILLION. In less than 4 years under Barack “Debt is Unpatriotic” Obama, the debt increased $5.389.

At this pace, if Obama is re-elected, the debt will increase over $12 TRILLION to a horrifying $22.675 TRILLION.

Is this really good for America? Is this really good for working Americans? Is this really good for our children?

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