HEY! Slow down! We're going on EIGHTEEN Trillion thank you very much! We're in bad enough shape, we don't need to be adding trillions onto the debt when we're not there yet!
It won't take that long to reach 20. Perhaps even before this president leaves office. What was it when he entered office? 10.5 trillion give or take a few billion. Now approximately 17.7 trillion. 7 trillion added in less than 6 years, I am sure if the president tries hard enough he can achieve 20 trillion by the time he leaves office.
Now this has me wondering, how many presidents have doubled the size of the national debt.
Wilson took it from 3 billion to 27 billion, he not only doubled the debt, he increased 900%. Throughout the 1920's the debt came down to a low of 16 billion in 1929. FDR took over in 1933 with a debt of 19 billion and when he died the debt was up to 258 billion. A 1,350% rise. The debt rose to 266 billion under Truman, not bad. Eisenhower added 20 billion to it, JFK added another 20 billion, still not bad. LBJ, the debt went from 306 billion to 353 billion, still within reason I suspect. Nixon add 122 billion upping the debt to 475 billion but nothing like Wilson or FDR.
Ford, I suppose we should count him, the debt stood at 620 billion when Carter took over, 145 billion was added during Ford's short 2 plus years. Carter added another 287 billion in his 4 years. It is not worth figuring out the percentages from FDR thru Carter, none of them even doubled the debt.
Now Reagan added almost 2 trillion, 1.950 trillion to be exact. An increase of 215%
Bush the first added 1.207 trillion an increase of 42%, Clinton added 1.61 trillion a 40% increase. But Clinton did his 40% increase over 8 years vs. Bush the first 4 years. I suppose this makes Clinton a cheap Charlie, sort of.
Bush the second added 4.35 trillion over 8 years, an increase of 77% and now Obama has added 7.7 trillion in less than 6 years and counting. If he didn't add another dime that would come out to a 77% increase. The same as Bush the seconds, almost double that of Bush the first and Clinton. But with 2 plus years to go I think Obama will have at least increased the debt by 90% if not doubling it.
But the top three percentage wise is FDR with his 1,350% increase, he increased the debt more than 13 times more than what it was when he entered office. Wilson is in second place with his 900%, 9 time more than when he took office. But WWI and WWII along with the great depression are probably valid reason for such humongous increases. Then Reagan in third with his 215%. These three are the only presidents who at least doubled the debt to date. Obama will be number four on this list before his time has expired.
