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Tuesday, March 20, 2012

'Irresponsible and Unpatriotic': National Debt Rises More In 3 Yrs Under Obama Than 8 Under Bush

By Susan Duclos

Obama Flashback - On July 3, 2008 -- the day before Independence Day -- Barack Obama said that adding $4 trillion in debt was irresponsible and "unpatriotic. (Video below)

Yesterday we covered the new RNC ad called "Mountain of Debt" and the links to data and news articles reflecting how our national debt has risen exponentially under Barack Obama in the three years he has held the office of president.

Today, CBS News confirms that officially the national debt has risen more in the three years under Obama than it did in the eight years under George Bush.

The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.

The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.

The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.

In response to the video above, if it is alright for Barack Obama to say that adding $4 trillion in debt over 8 years is "irresponsible" and "unpatriotic", then what is it when Obama adds $4.939 trillion in just three years?

[Update] Via Andrew Malcolm at Investors Business Daily we see that Obama "publicly urged and chastised the Republican-controlled House for not yet passing -- wait for it -- yes, another spending bill, this one on transportation."

[Update #2] Great minds think alike!