U.S. Piled Up More Debt Since Election Day ’08 Than Under All Presidents From Washington Through Clinton

Terence P. Jeffrey
CNS News
Nov 6, 2012

The federal government has now piled up more debt since Election Day 2008 than it did under all presidents from George Washington through Bill Clinton, according to official debt numberspublished by the U.S. Treasury.

When the polls opened on the morning of Tuesday, Nov. 4, 2008, the total debt of the U.S. government stood at $10,556,177,748,045.21 (the number it had reached by the close of business on Nov. 3, 2008). As of the close of business on Friday, Nov. 2, 2012, the most recent day reported by the Treasury, the total debt of the U.S. government stood at $16,206,129,028,709.29.

That is a four-year increase of $5,649,951,280,664.08.

According to the Treasury, the total debt of the U.S. government last surpassed $5,649,951,280,664.08 on June 21, 2001—five months after George W. Bush succeeded Bill Clinton as president. During the two years leading up to that date, the debt had periodically moved above and below that level, according to the Treasury, but since rising from 5,641,023,159,870.17 on June 20, 2001 to 5,650,400,532,764.38 on June 21, 2001, the debt has never again dropped below $5,649,951,280,664.08.

Full article here

This article was posted: Tuesday, November 6, 2012 at 10:58 am

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