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.