On Pace To Borrow $6.2T In One Term

Barack Obama sent Congress a .letter saying the government is within $100billion of running out of money. Now that Obama has sent the letter, Congress has 15 days to pass a resolution of disapproval or the debt ceiling will rise automatically by $1.2 trillion, according to the terms of the August debt ceiling compromise.

Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day putting him on a pace to increase the national debt by $6.2 trillion by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.

That $6.2 trillion is more debt than was accumulated by all U.S. presidents from George Washington through Bill Clinton combined. In fact, the U.S. national debt did not eclipse the $6.195 trillion level—the amount Obama is on pace to increase it in one term—until August 19, 2002, during President George W. Bush’s second year of office.

The national debt was $10.6 trillion on Jan. 20, 2009, the day Obama was inaugurated. As of the close of business on Jan. 11, 2012, it was $15.2 trillion. In Obama’s first 1,087 days in office, the debt increased $4.6 trillion or an increase of $4.24 billion per day.

Obama is deliberately destroying America's economy. The fundamental change he promised in 2008 is a change to socialism. If he isn't defeated in 2012 America may never recover from the damage he is doing.

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