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U.S. Debt Approaching The $16 Trillion Mark: National Debt Clock At Republican Convention
By Susan Duclos
The whole piece is over at CNS News, but the relevant quotes, and a message which should be hammered home by Republicans during their Tampa convention this week, are below:
At the close of business on Thursday, Aug. 23, according to the U.S. Treasury, the federal government’s debt stood at $15,976,519,029,144.14. That left it $23,480,970,855.86 short of the $16 trillion mark.
So far in this fiscal year (from Oct. 1 through Aug. 23), the debt
has grown by an average of $3,616,398,477.40 per calendar day
($1,186,178,700,586.99 divided by 328 days). Were the debt to grow at
that pace in the week following last Thursday’s close of $15.976
trillion, it would hit $16 trillion this Thursday–the day Mitt Romney
is scheduled to give his speech accepting the Republican presidential
nomination.[...]
Since Obama took office on Jan. 20, 2009, the debt has increased
$5,349,641,980,231.06. That is as much as the entire debt accumulated by
the United States from the founding of the country in 1776 until Feb.
28, 1997, when President Bill Clinton was in his second term.Thus, under Obama, the debt has increased more than under all
presidents from George Washington through George H.W. Bush combined.During President George W. Bush’s two terms in office, the debt
increased $4,899,100,310,608.44. That is also more than all the debt
accumulated by all previous presidents from George Washington through
George H.W. Bush combined.Nonetheless, the $5,349,641,980,231.06 in new debt accumulated in
less than four years under Obama is more than the $4,899,100,310,608.44
in new debt accumulated in eight full years under George W. Bush.
Republicans are unveiling a National Debt Clock which will hang above the delegates to the Republican convention, is designed to be
“a compelling visual reinforcing the desperate need for new fiscal
leadership in the White House,” says the Republican National Committee.
Party chairman chairman Reince Priebus will formally activate the
clock — starting at a figure above $15.9 trillion — when he convenes
the proceedings at 2 p.m. today.
“This clock reminds every delegate and every American why we are here
in Tampa – because America can and must do better,” Priebus said.
“Every American’s share of the national debt has increased by
approximately $16,000 during the current administration.”
(Source- WFMY News)
2012-08-27 10:39:44
Source: http://wwwwakeupamericans-spree.blogspot.com/2012/08/us-debt-approaching-16-trillion-mark.html
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