Obama achieved a milestone this week which no other President in U.S. history has ever reached – the accumulated federal debt since Obama first took office exceeded $9,000,000,000,000.
CNS News reported that the record debt accumulation was reached on Monday, October 3, the first business day of fiscal year 2017.
On the day Obama was inaugurated into office, January 20, 2009, the total federal debt was $10,626,877,048,913.08.
On Monday, the federal debt closed at $19,642,949,742,561.51.
The official debt increase under Obama as of Monday was $9,016,072,693,648.43. By the end of the day on Wednesday, it had already jumped to an increase of $9,036,534,448,884.32.
Obama has done in less than 8 years what it took the United States 231 years to achieve the first time. From the time the U.S. Declaration of Independence was signed in 1776, the U.S. reached its first $9 trillion debt mark on August 31, 2007.
CNS News points out that, based on 118,215,000 households in the U.S., the federal debt increase under Obama so far is approximately $76,442 per household – on top of what already existed when he took office.
President Bush increased the federal debt as well – by about half what Obama has done. During his eight years in office, the debt increased by $4,899,100,310.608.44.
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.
McDonald’s Outsourcing White-Collar Jobs To Foreigners