This Is Unbelievable! Under Obama, the U.S. Debt Went Up 122%
This is unbelievable but it’s true. Since Obama took Presidency, he managed to run our country into the ground in debt. 122% is amazingly higher than I thought. According to CNS news, the federal government’s “debt held by the public”—as opposed to its “intragovernmental debt”—has topped $14,000,000,000,000 for the first time in history, according to the latest numbers released by the U.S. Treasury. We are 19 trillion dollars in outstanding debt under President Obama’s watch. How arrogant is he for allowing this to happen to America. This is not what I’d call protecting the United States of America. So much of this money is unaccounted for. Where did it go? How was it spent?
I know when he was elected in 2008 he bailed out General Motors, funded Solandra (a solar company) 500 million dollars and Solandra went bankrupt. He was supposed to use some of it for infrastructure but nothing was done!
This is a brief account of what our debt was when he was elected in 2008.
The 2008 federal budget submitted by the president is $2.9 trillion, meaning a $700 billion bailout would constitute a 24% increase to $3.6 trillion, which would exceed the $3.1 trillion 2009 budget.
So the 700 billion bailout was only the beginning. In 2009, out debt was increased from 2.9 trillion to 3.6 trillion after he used billions for the bailout. Today, it is an astronomical amount. It went up 16.5 trillion dollars! We stand at 19 trillion in debt and it’s going up all the time.
We have two types of debt. One type is called “debt held by the public” and the 2nd type is called, “Intergovernmental Holdings.” They both are added together to be the debt of The USA. It’s a crime when one mans administration takes our country down so much in debt that it will be decades for it to be half paid. You know who’s going to be responsible for this debt, our future generation!
When President Barack Obama was inaugurated on Jan. 20, 2009, the federal government’s debt held by the public was $6,307,310,739,681.66.
Since then, it has increased by $7,705,599,169,854.87—or 122 percent.
H/T: CNS News