The $5 Trillion Man: Debt Has Increased Under Obama by $5,027,761,476,484.56

CNS ^ | April 18, 2012 | Terence P. Jeffrey

[robowombat]

The $5 Trillion Man: Debt Has Increased Under Obama by $5,027,761,476,484.56 By Terence P. Jeffrey April 18, 2012

President Obama shakes hands with Treasury Secretary Timothy Geithner at the State of the Union Address, Jan. 25, 2012. (AP Photo)

(CNSNews.com)- In the 39 months since Barack Obama took the oath of office as president of the United States, the federal government’s debt has increased by $5,027,761,476,484.56.

Although he has served less than a term, Obama is now the first American president to see the federal government's debt increase by more than $5 trillion during his time in office.

During the full eight years that George W. Bush served as president, the federal government's debt increased by $4,899,100,310,608.44. (Rising from $5,727,776,738,304.64 to $10,626,877,048,913.08.)

The $5,027,761,476,484.56 that the debt has increased during Obama's presidency equals $16,043.39 for every one of the 313,385,295 people the Census Bureau now estimates live in the United States.

At the close of business on Jan. 20, 2009, the day Obama was inaugurated, the federal government’s debt was $10,626,877,048,913.08, according to the U.S. Treasury. By the close of business on April 16, 2012—as many Americans were working to finalize their 2011 tax returns to meet an April 17 filing deadline—the debt had reached $15,654,638,525,397.64.

The $5,027,761,476,484.56 in additional debt that the U.S. government has taken on during the 39 months that Obama has been president is more debt than the federal government accumulated in the first 219 years of the Republic.

The total federal debt did not exceed $5,027,761,476,484.56 until March 14, 1996, when President Bill Clinton was in the last year of his first term in office. On that day, the national debt rose from $5,025,887,531,178.79 to 5,035,165,720,616.33.

[Steely Tom]

When he leaves office in 2017, it'll be Fifty trillion, gasoline will be $20/gallon when you can find it, there will be Chinese-owned oil platforms all over the Gulf of Mexico and off both our coasts, and we'll have race riots and racial terror in every major city and many minor ones. Gated communities will have become the norm for most people with jobs, just as they are in Central and South America.

Oh, and the media will be telling us how wonderful things are.

[I Drive Too Fast]

This thread could use the "Did I do that?" picture.

A trillion here, a trillion theres it begins to add up to disaster.

[microgood]

Up until now, George W. Bush was the most fiscally irresponsible President in our nation’s history. Now he is the second most fiscally irresponsible President in our nation’s history. He is probably happy Obama came along, as is Jimmy Carter.

[Ron C.]

Headline should be:

Dog-eating Skinny Communist Illegal President Has Destroyed America

[Opinionated Blowhard]

The past decade has been one of the worst in America history. Seriously. Obama’s spending is insane. The economy can't take it. But Lyndon Baines Bush set the stage with completely irresponsible levels of spending too. Yes, he had the Dems to contend with in his last two years but that doesn't excuse his first 6 years. Every fricken politician in the country is addicted to spending. When historians look back, they will definitely see the 2000s as a period of decline and irresponsibility.

[Cobra64]

This thread could use the "Did I do that?" picture.

A trillion here, a trillion theres it begins to add up to disaster.

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[I Drive Too Fast]

Thank you.

[mountainlion]

http://www.youtube.com/watch?v=LjMWwf8RtTQ&ob=av2n

It is just money

[SierraWasp]

The unchallenged unAmerican KING OF DEBT FOR LIFE!!!

[TwelveOfTwenty]

Up until now, George W. Bush was the most fiscally irresponsible President in our nation’s history.

Bush had to budget for the WOT, which was punted to him by an even more irresponsible overall President.

And before you list the big government programs Bush enacted, I agree with you on that. Bush was far more into big government than I would have preferred, but the deficit, even paying for the WOT, was at about 165 billion and shrinking when the Democrat majority Congress replaced the Republican majority Congress in Jan. 2007.

[noinfringers3]

Geitner’s daddy and Obama’s mommy, along with her grandparents, are at the middle of the gang to swindle the USA from It’s exceptional heritage.

[Grampa Dave]

I’m waiting for Lord Obozo, Pelosi Galore, Reid te Red, and others in Congress to push us into paying for the student loan debt.

Apparently, student loan debt now exceeds our credit card debt.

So those who spent 6+ years in getting a worthless instant unemployment degree and have between 100-200,000 in student loan debt are ready to sell their votes for debt relief.

They want us to also, pay for their housing, health care and of course retirement in the future.

[TwelveOfTwenty]

One thing I’ll remember about the Obama years is feeling stupid for working and paying my bills on time.

[Clintonfatigued]

The word “Trillion” was never used so frequently before Obama became President.

[Kaslin]

just imagine how much the debt will go up if he is reelected. I don’t even want to think about it

[stephenjohnbanker]

I’m gonna go get that Stanford Law degree, and NOT pay for it.

[robowombat]

Can someone who is knowledgeable about the federal debt explain how BHO rolled up $5T worth in three years. I know porkulus was about $1T counting all the addons. But where did the other four come from? This is a staggering sum even by Washington standards.This is not a facetious question. The US government must have poured money into the pockets of the connected (Soros and the Saudi Prince for instance) but what mechanisms were used and how were the REPUBs so generally mute. This is going to have a massive impact on the economy and public finance for decades. If Obamacare also gets a pass the US will become a really big version of Italy or Spain.

[budwiesest]

I think it has to do with the original stimulus (890 Billion?) that is now spent every year as it became incorporated into the new 'baseline' for spending in every department.

Could be why the Dem senate hasn't done a budget the last three years- nothing bogarts a re-election bid like voting "for" such fiscal irresponsibility. Apologies to Humphrey.

What's surprising is that the Kenyan whoopie cushion we elected President doesn't understand that such extravagance might be affordable if we had a thriving private sector. Capitalism isn't in his genes, though. (Class, gender, race, and other strife are his 'go-to' instincts similar to Muslim societies where Hate is the stock in trade and looks good on an organizer's resume).

Blame is the name of the game. Shia blames Sunni, Sunni blames Shia, both blame Jews. Imagine if these camel humping sandtards spent half the time inventing things with all the oil-money they're drowning in? Far be it for me to make judgment, but it seems this has been the worst possible place on Earth to send kazillions of our hard-earned petro-dollars. I mean, even the chinese have embraced capitalism to some extent for crying-out-loud (bullwhip capitalism).

That's our future if this malignancy isn't removed in November. Blame and Hate combined with public debt obligations that will have a long-lasting supressive effect on the private sector. Four more years of that and I think the parasite effectively kills the host.

Whoever we nominate this year I think should propose a "Capitalism Day" holiday where the private sector gets the day off and only public employees have to show up for work. Not a store open anywhere, not a plumber, a doctor, or a dog groomer available, but you could get your license renewed! Or, maybe make that a month- move over Black History. Sometimes, stupid needs it's ass kicked.

[Grampa Dave]

Get any degree and not pay for it.