President Obama left behind a mountain of debt – see how it compares to President G. W. Bush’s spending
Former President Barack Obama exited the White House Friday having knocked Former President G.W. Bush’s spending record out of the park by nearly double, adding $9.3 trillion to the national debt.
When Obama took office on Jan. 20, 2009, the outstanding public debt totaled $10,626,877,048,913. On Jan. 20, 2017, when Obama left office, outstanding public debt totaled $19,944,429,217,106, an increase of roughly $9.3 trillion.
Comparatively, former President George W. Bush contributed far less to the debt. When Bush took office in January 2001, the debt was roughly $5.7 trillion. That figure had swollen to $10.6 trillion by the time he left office, an increase of about $4.9 trillion.
“Federal debt is made up of debt held by the public and debt held by government accounts,” stated a recent report by the Government Accountability Office. “Total debt rose to $19.7 trillion during fiscal year 2016, an increase of $1.4 trillion from fiscal year 2015.”
Our national debt ballooned under former President Barack Obama. It’s time we manage our national spending responsibly and in a way that doesn’t jeopardize our standing with creditors worldwide or jeopardize our children’s future. Click here to help Tea Party Patriots encourage lawmakers to pass commonsense spending policy that would balance our budget within five years!