America Has Added More Debt Since Election Day 2008 Than The Previous 224 Years Of The Republic

debt_clock_rect-460x307

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.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

Related posts

Top