National Debt Up $3 Trillion on Obama's Watch

This is the man that told us exactly 2 years ago that he believed in pay-as-you-go and that he would go through the Federal budget line by line...

$10.6 trillion deficit January 20th 2009, $13.6 trillion today

weaselzippers
New numbers posted today on the Treasury Department website show the National Debt has increased by more than $3 trillion since President Obama took office.

The National Debt stood at $10.626 trillion the day Mr. Obama was inaugurated. The Bureau of Public Debt reported today that the National Debt had hit an all time high of $13.665 trillion.

The Debt increased $4.9 trillion during President Bush's two terms. The Administration has projected the National Debt will soar in Mr. Obama's fourth year in office to nearly $16.5-trillion in 2012. That's more than 100 percent of the value of the nation's economy and $5.9-trillion above what it was his first day on the job.

Just last Friday, the Treasury Department portrayed it as good news when it reported that the federal deficit in the fiscal year that ended September 30th was $1.294 trillion. That's less than the $1.416 trillion deficit accrued in 2009 - the largest federal deficit ever recorded. It was also less than the $1.556 trillion that had been initially projected for 2010.

The soaring deficit and Debt is one of the reasons Mr. Obama is adamantly opposed to extending tax cuts for Americans earning over $250,000 a year.The ten year cost would total $700-billion and Mr. Obama says it would needlessly add to the deficit
What Obama said almost exacty 2 years ago, roll tape: