Obama adds $3 trillion to national debt in less than 2 years
October 19, 2010
posted at 9:30 am on October 19, 2010 by Ed Morrissey
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.
- Republicans in control for 12 years: Added $4.034 trillion (avg $336.17 billion per year)
- Republicans in control during Bush era: Added $3.201 trillion (avg $533.5 billion per year)
- Democrats in control of Congress during Bush/Obama era: Added $4.603 trillion (avg 1.48 trillion per year)