"Without fanfare, the Bureau of Public Debt at the Treasury Department quietly posted its daily debt report showing the total public debt of the U.S. government topped $16.687 trillion. (To be exact: $16,687,289,180,215.37)," reports Mark Knoller of CBS.
"On January 20, 2009, the day Mr. Obama took office, the debt stood at $10.626 trillion. The latest posting reflects an increase of over $6 trillion."
And debt is expected to increase by nearly another trillion this year. "Nevertheless, the Office of Management and Budget projects the national debt will continue to increase by over $800 billion this year and by amounts in the range of $500 billion to $800 billion in the out years - all of which will add to the national debt."
It's an historic achievement for Obama, CBS notes.
"It's the largest increase to date under any U.S. president. During the eight-year presidency of George W. Bush, the debt soared by $4.9 trillion."
- See more at: http://www.weeklystandard.com/blogs...ational-debt_704980.html#sthash.wihCDiWN.dpuf
"On January 20, 2009, the day Mr. Obama took office, the debt stood at $10.626 trillion. The latest posting reflects an increase of over $6 trillion."
And debt is expected to increase by nearly another trillion this year. "Nevertheless, the Office of Management and Budget projects the national debt will continue to increase by over $800 billion this year and by amounts in the range of $500 billion to $800 billion in the out years - all of which will add to the national debt."
It's an historic achievement for Obama, CBS notes.
"It's the largest increase to date under any U.S. president. During the eight-year presidency of George W. Bush, the debt soared by $4.9 trillion."
- See more at: http://www.weeklystandard.com/blogs...ational-debt_704980.html#sthash.wihCDiWN.dpuf
