Treasury Dept: Obama Added $6 Trillion to US Debt in 4 Years; Bush $4.9 Trillion in 8 years
Posted by FactReal on September 5, 2012
|Obama has added $5.4 trillion to the U.S. debt in just 3 years and 8 months according to the numbers from the U.S. Treasury Department. If he continues spending at the same rate ($1.5 trillion per year), Obama will have added $6 trillion to the U.S. national debt at the end of his 4 years as president.
Bush added $4.9 trillion to the U.S. national debt…but in 8 years or $612 billion per year ($0.61 trillion per year) which means less than half of Obama’s rate.
|Under Obama, the U.S. Debt Increased from $10.6 Trillion to $16 Trillion|
|Under Bush, the U.S. Debt Increased from $5.7 Trillion to $10.6 Trillion|
|Source: U.S. Treasury Department
|This is the same Obama who in July 2008 called then-President Bush unpatriotic and irresponsible for adding almost $4 trillion to the U.S. national debt in 7 years and 7 months. In July 2008, the U.S. debt was at $9.5 trillion — which meant that Bush had added $3.7 trillion to the debt from January 2001 through July 2008 (7.58 years).|
|U.S. Debt for Fiscal Years 2000 through 2010
Historical view: If you look at the U.S. debt at the end of each fiscal year (September 30th), Obama is adding to the U.S. debt at a faster rate than Bush: