On July 3, 2008 — the day before Independence Day — Barack Obama said that adding $4 trillion in debt was irresponsible and “unpatriotic.
Then he went out and added a record $4 trillion to the national debt in only 2 and a half years.
Obama has now doubled the US national debt in 7 years.
The US national debt is now at $20 trillion.
The Washington Times reported:
When President Obama signs into law the new two-year budget deal Monday, his action will bring into sharper focus a part of his legacy that he doesn’t like to talk about: He is the $20 trillion man.
Mr. Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of his presidency in 2017. Added to the current total national debt of more than $18.15 trillion, the red ink will likely be crowding the $20 trillion mark right around the time Mr. Obama leaves the White House.
When Mr. Obama took over in January 2009, the total national debt stood at $10.6 trillion. That means the debt will have very nearly doubled during his eight years in office, and there is much more debt ahead with the abandonment of “sequestration” spending caps enacted in 2011.
