Obama Has Created More Debt than Bush, in Less than Half the Time
Over the weekend, Steve Eggleston checked the latest numbers from the Treasury Department and credited me for an accurate prediction: that upon the Ides of March, President Obama reached the milestone of raising the debt by $4.93 trillion since taking office.
On that day, the debt’s increase under Obama surpassed the amount it increased during George W. Bush’s two terms in office, $4.89 trillion.
In other words, Obama ran up as much debt in 3.15 years as Bush ran up in eight years.
(You can see my post with the prediction and calculations here.)
Remember, on the campaign trail, Obama said that adding $4 trillion in debt over Bush’s eight years was “irresponsible” and “unpatriotic.”
Oh, and recall that Obama declared in his debate with John McCain that he would enact a net spending cut.