Over the past five years, the U.S. government has been on the greatest debt binge in history. Unfortunately, most Americans don't realize just how bad things have gotten because the true budget deficit numbers are not reported on the news. The following is where the U.S. national debt has been on September 30th during the five years previous to this one...
09/30/2012: $16,066,241,407,385.89
09/30/2011: $14,790,340,328,557.15
09/30/2010: $13,561,623,030,891.79
09/30/2009: $ 11,909,829,003,511.75
09/30/2008: $10,024,724,896,912.49
The U.S. national debt is now 37 times larger than it was 40 years ago, and we are on pace to accumulate more new debt under the 8 years of the Obama administration than we did under all of the other presidents in U.S. history combined.
Of course all of the blame can't be placed at the feet of Obama. During the last two elections the American people have given the Republicans a solid majority in the U.S. House of Representatives, and the government cannot spent a single penny without their approval.
