Debt Grows Rapidly Under Obama Administration
August 23, 2011 by Personal Liberty News Desk
The national debt has grown by $4.24 trillion since President Barack Obama took office 945 days ago, The Los Angeles Times reported.
Though former President George W. Bush increased the national debt by $4.9 trillion during his tenure, it took him 2,648 days to do this, almost triple the amount of time that it has taken the current Administration, according to the newspaper.
More than $4 trillion in debt in less than four years in office means that the President will have been in power for the most rapid increase in the national debt during any time in the history of the U.S., reported The Washington Post.
“Obama will have added more to the national debt by the end of his first term in office than all of the 43 prior presidents combined,” said a spokeswoman for Presidential Candidate Mitt Romney.
The current debt is 97.6 percent of the country’s Gross Domestic Product, CBS News reported.