Obama Has Spent Almost 2x More Than All Previous US Presidents Combined
USA’s National Debt Almost Reaches $20 Trillion
Prior to Obama’s Administration taking power in DC, the National Debt of all US Presidents COMBINED was only $7,379,052,696,330.32.
In the last 8 years Obama has accumulated $12,020,947,303,669.68 of debt for the nation. That is almost double what every President before him spent combined.
Its almost as if President Obama is trying to obliterate our economy…
CNS News reports:
The federal debt moved above $19,400,000,000,000 for the first time as of the close of business on Tuesday, according to the data released today by the U.S. Treasury.
At the close of business on Monday, July 18, the total federal debt was $19,391,094,247,028.26, according to the Treasury. By the close of business on Tuesday, July 19, it had risen to $19,402,361,890,929.46.
On Friday, Oct. 30, 2015, Congress passed the “Bipartisan Budget Act,” which suspended the legal debt limit until March 15, 2017. President Obama signed that bill into law on Monday, Nov. 2, 2015
At the close of business on Oct. 30, the federal debt stood at $18,152,981,685,747.52.
In the less than nine months since then, the federal debt has increased by $1,249,380,205,181.94
How is this possible? Obama removed the debt ceiling.
Title IX of the Bipartisan Budget Act is entitled “Temporary Extension of Public Debt Limit.” The Congressional Research Service summary explains that part of the law this way: “The public debt limit is suspended through March 15, 2017. On March 16, 2017, the limit is increased to accommodate obligations issued during the suspension period.”