According to the Treasury Department the national debt held by the public is up 90% under President Obama.
The U.S. Treasury released its last Daily Treasury Statement for fiscal 2013 yesterday afternoon, revealing that during the presidency of Barack Obama the U.S. government debt held by the public has increased 90 percent.
At the close of business on Jan. 20, 2009, the day Obama was inaugurated, the U.S. government debt held by the public was $6,307,311,000,000, according to the Daily Treasury Statement for that day.
There is also intra-governmental debt which isn’t included in the above number. I’m assuming that’s what makes up for the discrepancy in the national debt held by the public and the overall national debt, which is nearing $17 trillion and the Treasury says they will hit the debt ceiling in about two weeks.
Speaking of the debt ceiling, Obama says raising it won’t cost one dime.
“For example, one of the most important things Congress has to do in the next couple weeks is to raise what’s called the debt ceiling. And it’s important to understand what this is. This is a routine vote. Congress has taken this vote 45 times to raise the debt ceiling since Ronald Reagan took office.
“It does not cost taxpayers a single dime. It does not grow our deficits by a single dime. It does not authorize anybody to spend any new money whatsoever. All it does is authorize the Treasury to pay the bills on what Congress has already spent.” (Read More)
But as he pointed out, they keep raising it. Then they raise it again. And his party refuses to pass a budget. Heck, the budgets he submits are routinely rejected by his own party. They don’t want to pass a budget because they don’t want to go on the record with how many of our dimes they’re spending.