Obama's Budget to Add $4.4 Trillion to Debt in Next Four Years
On track to $20 trillion in debt in 2016.
1:41 PM, Aug 23, 2012 • By DANIEL HALPER
By the end of this year, the federal debt is expected to be $16.2 trillion, which is $6.2 trillion more than when President Obama first came into office four years ago. Moreover, new analysis by the Republican side of the Senate Budget Committee finds that, over the next 4 years, if Barack Obama remains president and his budget is enacted, $4.4 trillion will be added to the federal debt.
Here's a chart illustrating the projected debt over the next four years:
As the chart notes, staying on the same path will mean that debt is expected to hit $17.5 trillion in 2013, $18.5 trillion in 2014, $19.4 trillion in 2015, and $20.3 trillion in 2016.
The last full year of Obama's presidency, if he is reelected, will be 2016.
"Federal debt will increase to $25.4 trillion by the end of 2022, an increase of $10.6 trillion (72 percent) under the president’s budget policies," the Senate Budget Committee notes.
It's been 1,212 since Senate Democrats brought a budget to the Senate floor.