WASHINGTON — After just three years and two months in office yesterday, President Obama has already racked up more government debt than George W. Bush totaled in eight years.
The debt has climbed by $4.93trillion under Obama, compared to $4.89 trillion during Bush’s two terms, according to a report from the Treasury Department’s Bureau of Public Debt.
Obama, who called the debt accumulated under Bush “unpatriotic,” has so far on his watch let the nation’s red-ink level reach $15.5 trillion, from $10.626 trillion when he took office.
The nonpartisan Congressional Budget Office has predicted that Obama's policies will push up the national debt by $9.7 trillion. That would boost the debt to more than $20 trillion by the end of Obama's second term, if he wins re-election.
Emperor Dumbama: The US' version of Matt Mulligan!