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$5,027,761,476,484.56 in debt!

By Catholic Online (NEWS CONSORTIUM)
April 18th, 2012
Catholic Online (www.catholic.org)

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 $5,027,761,476,484.56.

LOS ANGELES, CA (Catholic Online) - While Obama has served less than a single term, the president is now the first American president to see the federal government's debt increase by more than $5 trillion during his time in office.

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."

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