In 8 years Reagan increased debt $1.86-T to $2.8 Trillion ~ Unemployment 4.7%
In 4 years Bush 41 increased debt $1.34-T to $4.1 Trillion ~ Unemployment 3.3%
In 8 years Clinton increased debt $1.80-T to $5.9 Trillion ~ Unemployment 4.4%
In 8 years Bush 43 increased debt $5.36-T to $11.3 Trillion ~ Unemployment 5.9%
In 2 years Obama increased debt $3.14-T to $14.4 Trillion ~ Unemployment 9.7%
How to view the National Debt in an easier-to-understand perspective:
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $1,650,000,000,000
* National debt: $16,271,000,000,000
* Recent budget cuts: $38,500,000,000
Just remove 8 zeros to view the same data as a household budget:
* Family income: $21,700
* Money the family spent: $38,200
* New debt added to the credit card: $16,500
* New credit card balance owed: $162,710
* Total budget cuts so far: $3.85
***** Click this link to view a video that shows how horrific the national debt is! *****
Click this link to see a visual illustration of just how much 15 trillion dollars is!
UpQuick edited excerpts from a July 2011 article in:
USA Today -or-
View the current solution
America's National Debt limit has been increased nearly 100 times including its most recent jump in February 2011. Congress recently passed authorization to continue spending in excess of the current approved debt limit. The debt limit has been increased automatically every time congress has authorized yet more spending over the limit.
The nation hit $14.3 trillion debt May 16, 2011; but the Treasury, using various accounting manipulations, continued to increase spending. The current administration will run out of tricks on Aug. 2, 2011 at which time the U.S. could default unless the debt ceiling is raised.
Congress was well aware of the debt ceiling when it passed new spending authorization on April 15, 2011 to authorize an additional deficit of $1.7 trillion for 2011 alone. Nothing seems to stop or slow down this administration from reckless spending ... blindly increasing the debt limit while doing nothing of consequence to stop spending money that it doesn't have.
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