Obama Added $7.917 Trillion to the National Debt,
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Posted On: 12/27/2016 5:18:16 PM
Obama Added $7.917 Trillion to the National Debt, 68 Percent Spike
President Barack Obama added roughly $7.917 to America’s national debt, which amounts to a 68 percent increase from the $11.657 trillion debt level President George W. Bush accrued by the end of his presidency.
While there are several ways to determine a president’s contribution to the U.S. debt, the most accurate figure is achieved by combining the budget deficits from each fiscal year and adding the total amount to whatever the debt level was at when the last president left office.
For example, when President George W. Bush took office the national debt level was at $5.8 trillion. Bush added $5.849 trillion to the national debt. So when President Obama was sworn in, the national debt level was at $11.657 trillion.
It’s worth noting that the fiscal budget year in Washington D.C. starts on October 1 and ends on September 30. So Bush’s final budget for fiscal year 2009 added a record-setting $1.632 trillion to the national debt.
A breakdown of Obama’s budgets for each fiscal year and the amount they added to the debt comes from an analysis produced by thebalance.com :
President Barack Obama added roughly $7.917 to America’s national debt, which amounts to a 68 percent increase from the $11.657 trillion debt level President George W. Bush accrued by the end of his presidency.
While there are several ways to determine a president’s contribution to the U.S. debt, the most accurate figure is achieved by combining the budget deficits from each fiscal year and adding the total amount to whatever the debt level was at when the last president left office.
For example, when President George W. Bush took office the national debt level was at $5.8 trillion. Bush added $5.849 trillion to the national debt. So when President Obama was sworn in, the national debt level was at $11.657 trillion.
It’s worth noting that the fiscal budget year in Washington D.C. starts on October 1 and ends on September 30. So Bush’s final budget for fiscal year 2009 added a record-setting $1.632 trillion to the national debt.
A breakdown of Obama’s budgets for each fiscal year and the amount they added to the debt comes from an analysis produced by thebalance.com :
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