Google+
Close

The Campaign Spot

Election-driven news and views . . . by Jim Geraghty.

When Will Obama Outspend Bush’s Two Terms? Beware the Ides of March



Text  



Elaborating on some calculations by CBS News’s Mark Knoller . . .

On January 20, 2009, the total outstanding public debt was $10,626,877,048,913.08 ($10.62 trillion).

As of Tuesday, the debt is $14,649,289,670,347.85 ($14.64 trillion).

In 946 days, Obama has increased the national debt by $4,022,412,621,434.77 or $4.02 trillion.

That amounts to $4,252,021,798.56 per day ($4.25 billion).

When the debt increases another $877,587,378,565.23 ($877.58 billion), the debt accumulated under Obama’s presidency will equal the debt accumulated under Bush’s two terms.

Obviously, this can change, but barring some sudden shift in the federal government’s borrowing and spending habits, this milestone will be reached in 206 days from August 23, 2011. That would be March 15, 2012.

Beware the Ides of March.

If spending continues at the normal pace through Inauguration Day 2013, it would add an additional $1,326,630,801,150.72 ($1.32 trillion) to the debt total.

Obama will have, in one term, raised the national debt by $6.22 trillion, 22 percent more than George W. Bush did in two terms.


Tags: Barack Obama , George W. Bush


Text  


Subscribe to National Review