When Barack Obama took office in January of 2009, the national debt was $10.6 trillion. The debt held by the public sector was $6.3 trillion. Obama promised to lower the national debt during his presidency.
Three years, seven months and fifteen days later, as of today, the national debt tops $16 trillion. The debt held by the public sector is now around $11 trillion. In a matter of 1,323 days, the Obama administration has accounted for a 51% increase in the national debt and 75% increase in the debt held by the public sector.
Obama is the 44th person to hold the office of President of the United States. His increases in both debt categories are more than all of the previous 43 presidents before him.
Last week at the Republican National Convention, they had two national debt clocks on prominent display. As the different speakers gave their addresses, you could see the national debt speeding its way towards the $16 trillion mark. More than one speaker referenced the debt clock and how America cannot afford 4 more years of Obama.
Yet Obama is still trying to convince everyone that we are all better off now than we were four years ago. Interestingly, I saw a poll at the side of the article on Fox News that asked the question: “Are you better off now than you were 4 years ago.