Bush presidency saw biggest ever increase in debt in US history

February 14th, 2009 - 1:41 pm ICT by ANI  

Barack Obama

Washington, Feb 14 (ANI): Former President George W Bush was saved by just 24 days from running up a five trillion dollar government debt, but his presidency saw the biggest increase in the national debt as compared to the reign of earlier presidents.

The latest posting on the Department of the Treasury website shows the national debt just hit 10.759-trillion dollars. And that 5-trillion dollars and change more than it was on the day President Bush took office on January 20, 2001, the CBS News reported.

Even so, Bush ran up the biggest increase in the national debt of any American president. The Debt was 5.727-trillion dollars on his first day in the White House. And on the day he left, it was 10.626-trillion dollars.

So far, the national debt has increased 133-billion dollars since the day Barack Obama became President. That averages out to 5.3-billion dollars a day.

The Congressional Budget Office estimates the federal deficit this year will hit an all-time high of 1.2-trillion dollars and that doesnt include the stimulus bill. (ANI)

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