April 3, 2012
Chart: 'Debt Has Grown Four Times Faster Under Obama than Clinton or Bush'Topics: Political News and commentaries
An alarming chart from The Republican side of the Senate Budget Committee shows the "rate of debt increase during presidents' 4-year terms." As is clearly shown, Obama has already grown the debt four times faster than it grew under Clinton or Bush's 4-year term, yet he's still increasing the debt and his 4-year term still has 9 more months to go:
The Senate Republicans sends 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.
Posted by Hyscience at April 3, 2012 12:53 PM
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