The Blog

'Debt Grew Four Times Faster Under Obama than Clinton or Bush'

11:57 AM, Apr 3, 2012 • By DANIEL HALPER
Widget tooltip
Single Page Print Larger Text Smaller Text Alerts

An alarming chart from the Republican side of the Senate Budget Committee showing the "rate of debt increase during presidents' 4-year terms." 

"Debt grew four times faster under Obama than Clinton or Bush," the Senate Budget Committee finds. 

The Senate Republicans send along these facts to go along with the chart:

·        In just four years, President Obama’s policies will have added $6.4 trillion in new gross debt, for a total debt of $16.4 trillion by the end of this year.

·        Per-household debt will have risen from $85,500 at the end of 2008 to $135,100 by the end of 2012.

·        Average spending under the Obama Administration will be 33 percent higher than the four years preceding his term.

·        Spending in 2012 will be $800 billion higher than 2008.

·        Per-household spending in 2012 will be $7,000 greater than 2008—a 23 percent increase.

·        Per-household spending in 2022 under the president’s budget will be $44,000, nearly $20,000 higher than in 2008.

·        Per-household debt in 2022 under the president’s budget will be $195,000, more than double what it was in 2008.

Recent Blog Posts