Tags: obama | debt | rate | calculator

Debt Has Increased At Record Rate Under Obama

Wednesday, 18 Apr 2012 04:18 PM

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The federal government’s debt has increased by more than $5 trillion dollars since President Barack Obama took office. Obama is the first American president to have the debt increase by $5 trillion in his time in office, CNS News reported.

During George W. Bush’s eight years in office the federal debt increased by $4.899 trillion. The $5,027,761,476,484.56 in debt run up during Obama’s 39 months in office is more debt than the federal government accumulated in the first 219 years of its existence, CNS reported.

The total federal debt did not exceed $5 trillion until March 14, 1996, when President Bill Clinton was in the last year of his first term in office, according to CNS.

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