Tuesday, October 19, 2010

National Debt Up $3 Trillion on Obama's Watch

Call me a crazy, but I think that a balance budget would benefit the country.   We would need major cuts but even bigger tax increases.


John Coffey


From: Trout, Larry R

National Debt Up $3 Trillion on Obama's Watch

New numbers posted today on the Treasury Department website show the National Debt has increased by more than $3 trillion since President Obama took office.

The National Debt stood at $10.626 trillion the day Mr. Obama was inaugurated. The Bureau of Public Debt reported today that the National Debt had hit an all time high of $13.665 trillion.

The Debt increased $4.9 trillion during President Bush's two terms. The Administration has projected the National Debt will soar in Mr. Obama's fourth year in office to nearly $16.5-trillion in 2012. That's more than 100 percent of the value of the nation's economy and $5.9-trillion above what it was his first day on the job.



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