Obama’s Addition to National Debt Hits $7 Trillion
A few trillion here. A few trillion there. And soon you’re talking about a devalued dollar and a nation perpetually in debt.
The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president.
That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation’s existence–from 1776 through 2003.
Who knew Hope and Change meant hoping that money would still be worth something?
When President Obama took office on Jan. 20, 2009, the total federal debt was $10,626,877,048,913.08. As of the close of business on July 30, 2014, it had risen to $17,618,599,653,160.19–up $6,991,722,604,247.11 from Obama’s first inauguration day.
By the close of business on July 31, 2014, it had risen to $17,687,136,723,410.59—up $7,060,259,674,497.51 since Obama first inauguration day.
And we’re still on course for that $20 trillion national debt. Who says that Obama doesn’t believe in American exceptionalism?
But Obama could still surprise us with a $22 trillion national debt instead. Or if he abuses executive orders enough or maybe gets around to minting that trillion dollar coin, a $25 trillion national debt.
This post was originally published on this site