$4.242 trillion. That’s how much debt has been added since Nancy Pelosi and Harry Reid took control of Congress and passed their first budget. That’s a 32 percent increase to the national debt in less than three years, which now stands at to roughly $13.249 trillion, according to the U.S. Treasury.
Put another way, one out of every three dollars every individual American now owes in debt they can thank Reid and Pelosi for. That’s approximately $18,912 for every adult in the U.S., and $36,886 for every household.
Thanks, Nancy and Harry!
Although Barack Obama prefers to say that he inherited the bleak budget from the Bush Administration, it is more accurate to look at the composition of Congress, since it wields the power of the purse. By that measure, Obama has his colleagues in the House and Senate to blame for the budget deficits, and since 2007, Congress has been controlled by Democrats.
For 2010 alone, the deficit is expected to be a record $1.47 trillion, according to the White House’s Office of Management and Budget (OMB). Again, that falls right on Reid and Pelosi’s laps. Next year, OMB projects the deficit will total $1.42 trillion, $150 billion more than previously projected.
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