Obama on Pace to Borrow $6.2T in One Term—More Than All Presidents from Washington Through Clinton Combined
January 13, 2012
By Terence P. Jeffrey
“Let’s just keep borrowing more money. We’re only in debt for trillions of dollars. At this point, we might as well just keep going to see what happens. If we let our personal finances get as bad as the government’s, we’d be screwed.” –KTRN
President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.
That $6.2 trillion is more debt than was accumulated by all U.S. presidents from George Washington through Bill Clinton combined.
In fact, the U.S. national debt did not eclipse the $6.195 trillion level—the amount Obama is on pace to increase it in one term—until August 19, 2002, during President George W. Bush’s second year of office.