And we’ve still got one year to go.
The national debt increased by$8,314,529,850,339.07 during President Obama’s first seven years in office. In other words, the United States has added over $8.3 trillion on its national credit card.
CNS News — That equals $70,612.91 in net federal borrowing for each of the 117,480,000 households that the Census Bureau estimates were in the United States as of September.
During President George W. Bush’s eight years in office, the federal debt increased by $4,899,100,310,608.44, according to the Treasury. That equaled $44,104.65 in net federal borrowing for each of the 111,079,000 households that, according to the Census Bureau, were in the country as of Jan. 20, 2009, the day that Bush left office and Obama assumed it.
In the fifteen years from the beginning of Bush’s first term to the end of Obama’s seventh year in office, the federal debt increased $13,213,630,160,947.51.
As of January 20, however, the national debt was $18,941,406,899,252.15. That comes out to approximately $158,000 per American taxpayer.
Featured image via National Debt Clock
