The National Debt topped $13-trillion for the first time in U.S. history – reflecting the surge in government spending that will push the Debt to increasing highs through the rest of the decade.
Posted on the Treasury Department website this afternoon, the National Debt hit $13,050,826,460,886.97 as of June 1st.
Tallied against the nation’s Gross Domestic Product, the latest Debt number amounts to nearly 89.4 percent of the total economy.
Here’s a fun fact: Since the beginning of the 2000′s, the national debt has increased by $7,274,735,146,661.64, more in a period of ten years than in the previous 211 year history of the Republic.
Obama’s share of that? So far, $2,423,949,411,973.89 in 499 days. Or over $4.8 billion in debt growth per day.
Under President Bush? Debt growth was at over $1.6 billion per day. Now, that $1.6 billion isn’t a good number, but it’s better than the $4.8 billion per day under Obama.
Now ask yourself this: Does the government have a revenue problem, meaning that we’re not taxed enough? Or does the government have a spending problem?
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