$16 Trillion Dollars
For the first time in the history of the country, federal debt has topped $16 trillion dollars. The enormity of that sum beggars the imagination. One-third of it -- $5.4 trillion -- has accumulated under President Obama and his Democrat allies on Capitol Hill -- in just the last four years.
- In the last four years, the debt has increased by more than it did in the previous 17 years.
- Under Obama's latest proposed budget, the debt will grow to $25.4 trillion by the year 2022.
- This adds another $66,000 in debt for every American household -- for a grand total of $136,000.
- Our debt is the highest government debt in the world -- more than the debt run up by such famous spendthrifts as Portugal, Italy, Greece, and Spain.
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