The $6 Trillion Man
President Obama just became ‘The $6 Trillion Man’. It happened on 2/28/2013.
The national debt smashed the $6 trillion barrier for the first time ever under a single U.S. President.
How appropriate that should happen the day before mandatory sequestration spending caps went into effect. That is why sequestration was created in the first place. This puts a giant exclamation point on the problem of federal spending.
The previous debt growth record holder is former President George W. Bush. He racked up $4.9 trillion in new debt in two terms. Obama shattered the old record in less than one term!
Speaking of debt growth under the aforementioned record holder, then rookie Senator Barack Obama said this on the campaign trail in Fargo, North Dakota:
The way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt…
That’s irresponsible. It’s unpatriotic.
– Candidate Barack Obama, 4/3/2008
Still apparently on the campaign trail today, President Obama has been making campaign-style appearances lately trumpeting all the catastrophic consequences that will result if just a couple cents on the dollar gets trimmed from the federal trough.
Last week the President hopped on his $180,000/hr airplane to bop on down to a Newport News shipbuilding plant for a photo op to lament imposing sequestration spending caps on defense spending.
My, oh my!… how different things look when the shoe is on the other foot!