Quote:
Originally Posted by MarchHare
You may want to check your sources on that.
The US debt grew by 188.6% under Reagan and 89% under Bush, a per-term average of 94.3% and 44.5%, respectively. In Obama's first term, the debt grew by 41.4%, slightly lower than GWB's per-term average and less than half of Reagan's per-term average. Most of the debt growth attributed to Obama occurred in the first two years of his term. In 2012, the debt growth has slowed to a rate of 4.8% per year. It's an almost certainty that American debt growth will continue to slow over the course of Obama's second term as the US emerges from the recession into a recovery period.
Source: http://www.skymachines.com/US-Nation...ental-Term.htm
[Edit]
Also, the rate of debt growth has slowed during all four years Obama has been in office.
2008 (last Bush year): 15.9%
2009: 15.1%
2010: 13.9%
2011: 7.8%
2012: 4.8% |
I'm really not interested in rates of growth or growth percentages, because when Obama is dealing in such huge numbers it doesn't make sense.
Obama took office on Jan 20, 2009 and the debt was 10.6 trillion. Today it stands at 16.3 trillion. That's borrowing almost 6 trillion dollars in one term, or an increase of over 50%.
That's the REAL numbers from US treasury website, you can verify for yourself there.
http://www.savingsbonds.gov/NP/BPDLogin?application=np
(GW Bushs tenure the entire debt rose 4.9 trillion...over 8 years, reagan 1.7)