When Obama was inaugurated on Jan. 20, 2009, according to the Treasury Department the total national debt stood at $10,626,877,048,913.08.
At the end of January 1993, the month that President George H. W. Bush left office, the total national debt was $4.1672 trillion, according to the Treasury. Thus, the total national debt accumulated by the first 41 presidents combined was about $44.8 billion less than the approximately $4.212 trillion in new debt added during Obama’s term.
As of Monday, Obama had been in office 986 days—or about 32 and a half months. During that time, the debt increased at an average pace of $4.27 billion per day. Were that rate to continue until Obama’s term ends on Jan. 20, 2013, the debt would then stand at about $16.86534 trillion—an increase of more than $6.2 trillion for Obama’s four years. I guess they are right since the NATIONAL DEBT is expected to hit the 16 TRILLION by the START of the convention
Last edited by 23721; 09-03-2012 at 03:11 PM.
I have said on here often that Obama's policies have made it worse, that we can NOT spend our way out of the situation. But, a little realism in these discussions would be nice!
Last edited by Franco; 09-03-2012 at 03:17 PM.
So the treasury dept is wrong ? Guess they left that major element out
Last edited by 23721; 09-03-2012 at 03:23 PM.
Yes, the debt was 10.6 TRILLION when Bush43 left office. It was ZERO when Bush43 took office. Today, it is 16 TRILLION.
Some of that growth in the last 3.5 years can be attributed to Bush's policies like Medicare Plan B, two wars, tax cuts, No Child Left Behind. Bush was worse than Reagan when it came to deficit spending! Obama's deficits have been around 1.4 TRILLON a year and half of that are Bush's policies!!!
the national debt – as in the total public debt owed – increased on Clinton’s watch, and like all recent presidents, Clinton left the country with more than a trillion dollars deeper in debt than when he began — even with the late 1990s economic boom.
According to U.S. Treasury figures at Debt to the Penny on January 20, 1993, as Bill Clinton took office, the total outstanding public debt was $4.1 trillion. On January 19, 2001, that same figure had increased to $5.7 trillion.
As noted before, the debt during Bush’s eight years in office increased from $5.7 trillion to $10.6 trillion, or $4.9 trillion over eight years. But in the less than three years Obama has been in office, the debt has increased from $10.6 trillion to $14.2 trillion, a $3.6 trillion increase in about 27 months. In other words, Obama is increasing the debt by $1.6 trillion per year, three times as fast as Bush.
Last edited by 23721; 09-03-2012 at 04:56 PM.