Sunday, April 22, 2012
The $5 Trillion Man: Debt Has Increased Under Obama by $5,027,761,476,484.56
Although he has served less than a term, Obama is now the first American president to see the federal government's debt increase by more than $5 trillion during his time in office.
During the full eight years that George W. Bush served as president, the federal government's debt increased by $4,899,100,310,608.44. (Rising from $5,727,776,738,304.64 to $10,626,877,048,913.08.)
The $5,027,761,476,484.56 that the debt has increased during Obama's presidency equals $16,043.39 for every one of the 313,385,295 people the Census Bureau now estimates live in the United States.
At the close of business on Jan. 20, 2009, the day Obama was inaugurated, the federal government’s debt was $10,626,877,048,913.08, according to the U.S. Treasury. By the close of business on April 16, 2012—as many Americans were working to finalize their 2011 tax returns to meet an April 17 filing deadline—the debt had reached $15,654,638,525,397.64.
The $5,027,761,476,484.56 in additional debt that the U.S. government has taken on during the 39 months that Obama has been president is more debt than the federal government accumulated in the first 219 years of the Republic.
The total federal debt did not exceed $5,027,761,476,484.56 until March 14, 1996, when President Bill Clinton was in the last year of his first term in office. On that day, the national debt rose from $5,025,887,531,178.79 to 5,035,165,720,616.33.