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The national debt was 10.6 trillion when Obama took office in 2009. It is now 16.7 trillion, a rise of 57%. Under Bush, the debt rose 38%.
While some believe Obama did not put us in any debt, blaming the Bush administration and Congress, and citing the extremely unpopular bank bailout and The Republican House voting repeatedly to increase spending for "corporate welfare and tax cuts for the rich" after the 2010 elections, the "Cash for Clunkers" and other programs, including the unpopular Affordable Healthcare Law, were passed under Obama's presidency.
While some point out that Obama reduced the number of federal employees, others counter that the Affordable Health Care Bill added more government positions.
There is also the issue of the Iraq and Afghanistan wars starting under Bush, but Bush is not responsible for the wars continuing under Obama, adding huge amounts to the national debt.
The bottom line is while neither president was totally alone in increasing the debt, after all Congress needs to get the "credit" that is due to them, the national debt increased under Bush and is increasing at an even greater rate under Obama.
What else can I help you with?
How much debt does the US have?
We hvae about $3,000,000,000,000 or $3 Trillion in debt =[
How much is US foreign debt?
US foreign debt is now over 4.5 trillion dollars a year. China holds a majority of the US foreign debt.
How much is US in debt?
Almost 16.4 TRILLION DOLLARS! It's sad, but true.
How much is the interest on the US National Debt?
Currently, American taxpayers are paying $53,000,000,000 (yes that's BILLION) per MONTH just for the INTEREST on our current debt!
What is the debt collection in Canada and the US?
If you move from Canada to the US and have bad debt in Canada will it effect your credit in the US?
How much debt did Obama put us in before Mitt Romney came in office?
As of the time this question was asked, the Presidential race is still ongoing and the election has yet to happen. Therefore, this question can not be answered.
Who is to blame for us national debt?
Everyone essentially. Especially from Reagan-Obama.
What good has Obama done for the US debt?
As of now, as it stands today, he has increased it dramatically.
How much US Debt in trillions?
Total US Debt: $14.1 Trillion Debt Held by US Public: $9.49 Trillion Debt held by Foreigners: $4.45 Trillion
How much debt does the US have?
We hvae about $3,000,000,000,000 or $3 Trillion in debt =[
Does President Obama have a plan to lower US's national debt?
YES, he is going to raise taxes on the higher class.
Which US President increased the most amount of national debt?
Barrak Hussein Obama has added more debt then all other U S Presidents combined
How much is US foreign debt?
US foreign debt is now over 4.5 trillion dollars a year. China holds a majority of the US foreign debt.
How much is the US national debt?
As of January 31st 2011, total debt of the US economy is 14.13 Trillion US Dollars.
Is it Obama's fault is that the US is in debt?
President Barack Obama did inherit a debt and although both the President and former President Bush have added quite a bit to the debt. Over time it is a collective fault each contributing, some more, some less. Note that the only President that balanced the budget was President Clinton. The country has never had zero debt.
What motivates Barack Obama?
Barack Obama was motivated by his hardworking, single mother who raised him. When she died of cancer and was facing a mountain of debt, Obama realized that he wanted to do something to fix the state of healthcare in the US. This was a big factor in his creation of the Affordable Care Act.
How can we prevent poverty?
There is no real true way to prevent poverty without loseing so much money it would put the us further into debt
