$5,027,761,476,484.56 in debt!
National debt has spiraled to $5 TRILLION under President Obama
Just call U.S. President Barack Obama the "$% Trillion Man." It may
sound funny, but a lot of people are crying right now. In the 39 months
since Barack Obama took the oath of office as president of the United
States, the federal government's debt has increased by a whopping
'Today's analysis serves as a disappointing reminder of this administration's broken promises and failed leadership when it comes to averting the most predictable economic crisis in our history,' House Budget Committee Chairman Paul Ryan (R-WI) says.
While George W. Bush served as president, the federal government's debt increased by $4,899,100,310,608.44, rising from $5,727,776,738,304.64 to $10,626,877,048,913.08. This was during his full eight years in office.
The $5,027,761,476,484.56 that the debt has increased during Obama's presidency equals $16,043.39 for every one of the 313,385,295 people the Census Bureau now estimates live in the United States.
On Jan. 20, 2009, the day Obama was inaugurated, the federal government's debt was $10,626,877,048,913.08, according to the U.S. Treasury. By the close of business on April 16, 2012, the date typically used by Americans to file their last-minute income tax returns - U.S. debt had reached $15,654,638,525,397.64.
"The $5,027,761,476,484.56 in additional debt that the U.S. government has taken on during the 39 months that Obama has been president is more debt than the federal government accumulated in the first 219 years of the Republic," reporter Terence P. Jeffrey declares.
The total federal debt did not exceed $5,027,761,476,484.56 until March 14, 1996, when President Bill Clinton was in the last year of his first term in office. On that day, the national debt rose from $5,025,887,531,178.79 to 5,035,165,720,616.33.
"Today's analysis serves as a disappointing reminder of this administration's broken promises and failed leadership when it comes to averting the most predictable economic crisis in our history," House Budget Committee Chairman Paul Ryan (R-WI) said. "When it comes to our generation's greatest challenges, the President refuses to take accountability or demonstrate much-needed leadership."
© 2012, Catholic Online. Distributed by NEWS CONSORTIUM.
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Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.
Keywords: President Obama, national debt, taxes
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