America Has Added More Debt Since Election Day 2008 Than The Previous 224 Years Of The Republic
If Barack Obama loses tonight, this will be his legacy:
(CNSNews.com) – The federal government has now piled up more debt since Election Day 2008 than it did under all presidents from George Washington through Bill Clinton, according to official debt numbers published by the U.S. Treasury.
When the polls opened on the morning of Tuesday, Nov. 4, 2008, the total debt of the U.S. government stood at $10,556,177,748,045.21 (the number it had reached by the close of business on Nov. 3, 2008). As of the close of business on Friday, Nov. 2, 2012, the most recent day reported by the Treasury, the total debt of the U.S. government stood at $16,206,129,028,709.29.
That is a four-year increase of $5,649,951,280,664.08.
To be fair, George W. Bush is part of that legacy too. The $5,649,951,280,664.08 we’ve added in four years of Obama is greater than the total US national debt when Clinton left office. It was George W. Bush and, for six of his eight years, a Republican Congress that took us up to and past $10 trillion. And in four years Obama has taken us past $16 trillion.
Whoever wins the national election, this has got to stop. Not slowed, but stopped.Tags: deficits, national debt