As mentioned below, this is “Debt and Deficit Week” for the Romney campaign. It’s the rhetorical equivalent of fish in a barrel.
This morning, the Republican National Committee takes batting practice on President Obama’s big promises, bigger disappointments, and biggest deficits.
It is a bit maddening how the debt comes and goes as a resonant issue… but it just grows, bigger and bigger.
As of May 10, the debt is $15.67 trillion. The day President Obama took office, it was $10.62 trillion. So Obama has now run up roughly $5.05 trillion in debt in less than four years. For comparison, the national debt increased $4.9 trillion during the eight-year presidency of George W. Bush.
Remember, on the campaign trail, Obama said that adding $4 trillion in debt over Bush’s eight years was “irresponsible” and “unpatriotic.”
And of course, while discussing his budget plan in 2008, Obama “I am cutting more than I am spending.”
But perhaps the best illustration of spending under Ronald Reagan, George H.W. Bush, Bill Clinton, George W. Bush, and Barack Obama comes from PoliticalMath.com: