Obama Oversees The Most Rapid Increase Of Debt Under Any U.S. President

August 25, 2011 by Sam Rolley


President Obama is set to create more national debt in one term than Bush did in two.

President Barack Obama has often noted that when he took office he inherited a huge national debt as a result of President George W. Bush’s two wars, his tax cuts and a prescription drug program that the country did not pay for, according to CBS News White House correspondent Mark Knoller. http://www.washingtonpost.com/blogs/rig ... _blog.html

Despite the President’s claims, Knoller writes, the most recent numbers from the U.S. Treasury show that the Obama Administration will surpass in just one term the spending of Bush’s two terms.

“The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion,â€