The $5 Trillion Man: Debt Has Increased Under Obama by $5,027,761,476,484.56

http://cnsnews.com/news/article/5-trillion-man-debt-has-increased-under-obama-502776147648456

April 18, 2012

(CNSNews.com)- In the 39 months since Barack Obama took the oath of office as president of the United States, the federal government’s debt has increased by $5,027,761,476,484.56.

Although he has served less than a term, Obama is now the first American president to see the federal government’s debt increase by more than $5 trillion during his time in office.

During the full eight years that George W. Bush served as president, the federal government’s debt increased by $4,899,100,310,608.44. (Rising from $5,727,776,738,304.64 to $10,626,877,048,913.08.)

The $5,027,761,476,484.56 that the debt has increased during Obama’s presidency equals $16,043.39 for every one of the 313,385,295 people the Census Bureau now estimates live in the United States.

At the close of business on Jan. 20, 2009, the day Obama was inaugurated, the federal government’s debt was $10,626,877,048,913.08, according to the U.S. Treasury. By the close of business on April 16, 2012—as many Americans were working to finalize their 2011 tax returns to meet an April 17 filing deadline—the debt had reached $15,654,638,525,397.64.

The $5,027,761,476,484.56 in additional debt that the U.S. government has taken on during the 39 months that Obama has been president is more debt than the federal government accumulated in the first 219 years of the Republic.

The total federal debt did not exceed $5,027,761,476,484.56 until March 14, 1996, when President Bill Clinton was in the last year of his first term in office. On that day, the national debt rose from $5,025,887,531,178.79 to 5,035,165,720,616.33.

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Posted on April 18, 2012, in Politics, US Politics and tagged , , , , . Bookmark the permalink. 1 Comment.

  1. Pretty number ain’t it. At least until you start adding perspective.

    Lets see- 15%+ is due to interest on the debt- a debt that has grown astonishingly under republican presidents in recent decades- with Reagan tripling the debt that had been accumalated by all previous presidents combined. Both Bush’s also drastically increasing the debt despite a strong economy and strong GDP, and of course Bush JR ratcheting it up all the while hiding the costs of the two wars off the budget.

    Then of course we have Obama submitting to the GOP on extending the Bush era tax cuts, despite new revenue being needed.

    And of course There was the massive amount of spending required due to the economic collapse inherited- the worst since the great depression.

    Now I am no fan of Obama, and Democrats certainly can fritter away money. But the republicans are as bad, if not worse, with their insistence on military spending, and refusal to tax the wealthy and major corporations.

    When you remove the interest and the bailouts- which by and large were a continuation of Bushs final year TARP and other bailouts, Obamas spending IS high, but nowhere near as alarming as the right is trying to paint it (but more alarming then the left is painting it- with the major caveat that the reality in the US has changed drastically and there WILL be a huge amount of costs in coming years associated with the new service and technology based economy and our crumbling infrastructure)

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