Friday, February 24th, 2012 and is filed under Blog
It’s hard to understate just how much debt this president has accrued relative to his predecessors. By the end of his first term, Obama will have racked up $5.8 trillion in debt, topping off our gross national debt at $16.4 trillion. To put that in perspective, it took from our nation’s founding until 2001 to accumulate that much debt. So in just one term, Obama will incur more debt than the first 42 presidents combined.
Perhaps the most salient debt milestone Obama will be remembered for is that our debt surpassed the size of our economy on his watch. Here is a chart courtesy of Zero Hedge that illustrates the sort of unsustainable trajectory that the president has stimulated.
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