The Campaign Spot

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

U.S. Set to Reach Another Debt Milestone Under Obama


The total U.S. public debt will probably hit $15.5 trillion today.

On Tuesday, according to the Department of the Treasury, it was $15,499,023,629,682.44, to be precise.

That figure was $10.6 trillion the day Barack Obama took office.

That is an increase of $4,872,146,580,769.36 — let’s just say $4.8 trillion — over 1,142 days.

Remember, on the campaign trail, Obama said that adding $4 trillion in debt over Bush’s eight years was “irresponsible” and “unpatriotic.”

That’s an average of $4.26 billion — $4,266,328,004.18 — in new debt per day during Obama’s presidency.

For comparison, the national debt increased $4.9 trillion — $4,899,100,310,608.44, to be precise — during the eight-year presidency of George W. Bush.

In other words, when the debt increases another $27 billion — $26,953,729,839.08 — Obama will have run up as much debt in three years and a couple of months as Bush ran up in eight years. Obama will reach that milestone in a few days. (Back in August, I predicted Obama would hit this milestone on the Ides of March.)

Oh, and recall that Obama declared in his debate with John McCain that he would enact a net spending cut.

Tags: Barack Obama , George W. Bush , National Debt


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