Grim Milestone: US National Debt Hits $16 Trillion Representing A More Than 50% Increase Under Obama
According to the US Treasury, and just in time for the Democrat National Convention, as of August 31st the US national debt is $16,015,769,788,215.80.
When Obama took office on January 20th, 2009 the national debt was $10,626,877,048,913.08. Which means that, during Obama’s term in office, the national debt has grown $5,388,892,739,303.
That’s a more than 50% increase.
Every single president in history, from George Washington through George W. Bush, managed to accumulate $10.626 trillion in national debt. And Obama has increased that by more than 50% in less than four years.
To be fair, Bush saw a roughly 85% increase in the national debt under his administration (from $5.727 trillion to $10.626 trillion) over his eight years in office. Which means that Bush was really, really bad on spending (as were the Republicans and Democrats in Congress during his term), but Obama and our current Congress is even worse.Tags: deficits, national debt