U.S. Piled Up More Debt Since Election Day ’08 Than Under All Presidents From Washington Through Clinton

Terence P. Jeffrey | November 6, 2012 | 9:18am EST
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George Washington Resigning His Commission by John Trumbull. (Architect of the Capitol photo)

(CNSNews.com) - The federal government has now piled up more debt since Election Day 2008 than it did under all presidents from George Washington through Bill Clinton, according to official debt numbers published by the U.S. Treasury.

When the polls opened on the morning of Tuesday, Nov. 4, 2008, the total debt of the U.S. government stood at $10,556,177,748,045.21 (the number it had reached by the close of business on Nov. 3, 2008). As of the close of business on Friday, Nov. 2, 2012, the most recent day reported by the Treasury, the total debt of the U.S. government stood at $16,206,129,028,709.29.

That is a four-year increase of $5,649,951,280,664.08.

According to the Treasury, the total debt of the U.S. government last surpassed $5,649,951,280,664.08 on June 21, 2001—five months after George W. Bush succeeded Bill Clinton as president. During the two years leading up to that date, the debt had periodically moved above and below that level, according to the Treasury, but since rising from 5,641,023,159,870.17 on June 20, 2001 to 5,650,400,532,764.38 on June 21, 2001, the debt has never again dropped below $5,649,951,280,664.08.

Thus, the $5,649,951,280,664.08 in new debt accumulated since Americans started voting on Tuesday, Nov. 4, 2008 exceeds the total debt accumulated in the first 224 years after the United States declared independence from England on July 4, 1776. That includes all the debt accumulated during the terms of all of America presidents, starting from George Washington, whose first term began in 1789, and running through Bill Clinton, whose second term ended on Jan. 20, 2001.

The $5,649,951,280,664.08 in new debt piled up since Election Day 2008 also equals $43,119 for each of the 131,032,799 people who voted in that election.

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