Here's How Much Debt The US Government Added Under President Obama
Bob Bryan
Jan. 20, 2017, 11:10 AM

As part of the broader economic legacy of President Barack Obama, from jobs to the stock market, one of the most notable changes has been the increase in the national debt.

Based on quarterly data released by the US Treasury, the debt at the end of 2008 — just before Obama took office — stood at roughly $10,699,805,000,000.

As of the third quarter of 2016, the most recent data available, the debt as Obama is set to leave office stood at $19,573,445,000,000.

Based on the website USdebtclock.com, which extrapolates the US national debt in real time based on committed government spending, the debt will be roughly $19.97 trillion when President-elect Donald Trump takes office on Friday.

Thus, the national debt under Obama will have grown by about $9 trillion, or an increase of 86%.

Some of this debt is attributable to bills passed by Obama's predecessor, George W. Bush, since the federal government's fiscal year budget operate differently from the calendar year. Also, both Bush and Obama rolled out large investment bills to help the US recover from the depths of the financial crisis.

A majority of economists agree that debt-financed government spending during the depths of a recession is a good way to help mitigate the impact of the crisis and help return the country to economic growth. In addition, the debt may not be a scary as some think, since the US is still in good credit standing and prints the reserve currency of the world.

Additionally, as the Obama administration often notes, the annual deficit has decreased each year of the Obama presidency.

With those facts in mind, the size of the debt increase is quite staggering.

http://uk.businessinsider.com/national-debt-deficit-added-under-president-barack-obama-2017-1

Who dem borrow d money from?

d kind of news dis govt wil like to read ova n ova again n use as case examplary study to justify der own gross debt.

Buhari and his African cohorts will be reading this and be wondering why we are complaining about the Chinese loan of $60bn when one administration in USA accumulated about $9trn.

APC rogues don see campaign tool and reference

https://www.washingtonpost.com/news/the-fix/wp/2015/01/07/the-story-behind-obama-and-the-national-debt-in-7-charts/?utm_term=.7302f2f41082
https://www.politifact.com/new-jersey/statements/2012/may/04/chain-email/obama-has-added-more-national-debt-previous-43-pre/

https://money.cnn.com/2016/10/19/news/economy/debt-obama-trump/index.html

#factsfirst

Trump supporters would not understand that all that money went into investing for the economic progress they seeing now under Trump. But I bet ya if things were now fuqed up, they'd be claiming it was Obama what done it! Smh!

I know we are not all stupid and quite a lot of us have brains. I wake up in the morning and see bright futures for this reason. If I were a god believer, I would seriously sing praises. In fact, thank you gods for surrounding me with all the brainy people that surround me. Please increase their number exponentially, always. So mote!

Here is a Country List Government Debt to GDP. I was after a graph showing debt for G7 countries in 2007, just before the economic crisis that shooed Obama in, to when Trump took over, to show how most countries ramped up debt in that period. Meanwhile, here's a graph for UK debt in that period.

Hanji:


Who dem borrow d money from?

Good question.