THE NATIONAL DEBT HAS HIT THE $16 TRILLION MARK FOR THE FIRST TIME IN U.S. HISTORY
The National Debt Is Now $16.0 Trillion Dollars. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 9/4/12)
Since President Obama Took Office, The National Debt Has Risen $5.3 Trillion, An Increase Of Over 51 Percent. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 9/4/12)
Under Obama’s Watch, Each Citizen’s Share Of The National Debt Has Risen $17,454 To A Total Of $51,874. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 9/4/12)
Obama Has Added An Average Of $4,073,237,142 To The National Debt Every Day. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 9/4/12)
On Average, Obama Has Added $1 Trillion To The National Debt Every 245 Days. (US Department Of The Treasury, TreasuryDirect.gov, Accessed 9/4/12)
UNDER OBAMA, THE NATIONAL DEBT HAS SKYROCKETED
Politifact: Barack Obama Is “The Undisputed Debt King Of The Last Five Presidents.” “So by this measurement — potentially a more important one — Obama is the undisputed debt king of the last five presidents, rather than the guy who added a piddling amount to the debt, as Pelosi’s chart suggested.” (“Nancy Pelosi Post Questionable Chart On Debt Accumulation By Barack Obama, Predecessors,” Politifact, 5/19/11)
Obama Is Responsible For “The Most Rapid Increase In The Debt Under Any U.S. President.” “The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama’s watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It’s the most rapid increase in the debt under any U.S. president.” (Mark Knoller, “National Debt Has Increased $4 Trillion Under Obama,” CBS News, 8/22/11)
Congressional Budget Office: “The Amount Of Federal Debt Held By The Public Has Skyrocketed In The Past Few Years, Rising From 40 Percent Of GDP At The End Of 2008 To An Estimated 73 Percent By The End Of This Year.” (“An Update To The Budget And Economic Outlook: Fiscal Years 2012 To 2022,”Congressional Budget Office, 8/22/12)
According To The CBO, Federal Debt Held By The Public Will Reach The Highest Levels Since The 1950s. “Federal debt held by the public will reach 73 percent of GDP by the end of this fiscal year-the highest level since 1950 and about twice the 36 percent of GDP that it measured at the end of 2007, before the financial crisis and recent recession.” (“An Update To The Budget And Economic Outlook: Fiscal Years 2012 To 2022,” Congressional Budget Office, 8/22/12)
Wild Thing’s comment…………
God help us all if he gets a second term.