Tags: obama | budget | debt | enacted

$20 Trillion Debt in 2016 If Obama Budget Enacted

Friday, 24 Aug 2012 09:37 AM

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The federal debt will reach $20.3 trillion in 2016 if President Barack Obama is re-elected and by the end of this year the Obama administration will have added $6.2 trillion to the debt since he came into the White House, the Weekly Standard reported.

If Obama wins another term and his budget is enacted, $4.4 trillion will be added to the federal debt over the next four years, the Weekly Standard reported, citing a new analysis by Republicans in the Senate Budget Committee.

Debt will reach $17.5 trillion in 2013, $18.5 trillion in 2014, $19.4 trillion in 2015, and $20.3 trillion in 2016.

"Federal debt will increase to $25.4 trillion by the end of 2022, an increase of $10.6 trillion (72 percent) under the president’s budget policies," the Senate Budget Committee notes, according to the Weekly Standard.

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