Grim Milestone: Obama-Era Debt Accumulation Hits $6 Trillion
Under President Obama, the national debt has increased 57%:
(CNSNews.com) — The debt of the federal government has now increased by $6 trillion during the time that Barack Obama has been president, according to the U.S. Treasury.
At the close of business on Jan. 20, 2009, the day Obama was first inaugurated, the debt of the federal government was $10,626,877,048,913.08. At the close of business on Thursday, Feb. 28, the debt of the federal government hit $16,687,289,180,215.37.
Meanwhile, the Democrats have decided to stiff Duke Energy which extended to the party a $10 million line of credit to fund their convention after the cost of the event went well beyond what they were able to raise:
The Democratic National Committee has no plans to repay Duke Energy for an unprecedented $10 million line of credit it guaranteed to help the Democratic convention’s local host committee put on President Obama’s three-day nominating convention in Charlotte, N.C., last September.
A Duke company official said the company was claiming the money as a business expense for tax purposes, meaning shareholders will foot $6 million of the cost, according to a report in the Charlotte Observer.
You’ve got to hand it to the Democrats. They’re consistent. They run the nation like they run their party.Tags: Barack Obama, deficits, dnc, national debt