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Debt Increased More Under Geithner Than Under Any Treasury Secretary in U.S. History

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Matt Cover
CNS News
July 1, 2011

Treasury Secretary Timothy Geithner oversaw the largest increase in the national debt of any Treasury secretary in American history, presiding over a $3.7 trillion increase in the debt.

According to data from the Treasury Department’s Bureau of the Public Debt, the national debt has increased$3,723,575,990,130.10 from Jan. 26, 2009 until June 30, 2011, Geithner’s entire tenure to date as Treasury secretary.

When Geithner took office the total national debt stood at $10.6 trillion. As of June 30, 2011, it had risen to $14.3 trillion.

In fact, the debt accrued under Geithner is greater than all federal debt accrued in the first 204 years of the nation’s history. The national debt did not reach $3.7 trillion until October 1991, according to historical Treasurydata that reaches back to 1791.

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This article was posted: Friday, July 1, 2011 at 3:41 am





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