The $6 Trillion Man--Debt Up That Much Under Obama
(CNSNews.com) -- The debt of the federal government has now increased by $6 trillion during the time that Barack Obama has been president, according to the U.S. Treasury.
At the close of business on Jan. 20, 2009, the day Obama was first inaugurated, the debt of the federal government was $10,626,877,048,913.08. At the close of business on Thursday, Feb. 28, the debt of the federal government hit $16,687,289,180,215.37.
That means that so far during Obama’s presidency, the total debt of the federal government has increased by $6,060,412,131,302.29.
According to the latest estimate from the Census Bureau, there are 115,031,000 households in the United States. Thus, the debt of the federal government has increased by approximately $52,685 per household during Obama's time in office.
Under Obama, the debt has already increased by more than it increased under all U.S. presidents from George Washington through Bill Clinton.
The total federal debt did not finally exceed $6.06 trillion until June 28, 2003, during President George W. Bush’s first term. At the close of business on June 27, 2002, the total federal debt was $6,018,752,489,419.85. By the close of business on June 28, it was $6,126,468,760,400.48.
In the less-than eleven years that have passed since June 27, 2002, the federal debt has increased by more than $10 trillion.