When Barack Obama took office in January of 2009, the National Debt sat at $10.62 trillion dollars, where much of it is directly attributed to his predecessor George W. Bush, who practically doubled the debt from 2001-08 through multiple wars engaged upon in Afghanistan and Iraq.
But as we come to the end of Obama's eight years in office we are now entering a new era of debt creation, and one where little at all was done to try to stem both the flow of borrowing, and the winding down of Washington's eternal wars. And as the National Debt crosses over $19.5 trillion on Sept. 1 of this year, it is estimated that the nation will breach the $20 trillion mark by the time the President ends his White House tenure in January of next year.
Earlier this week, the US national debt hit $19.5 trillion, for the first time ever. Since January 2016, it has increased by $500 billion, according to the US Treasury.
US Federal Debt to Rocket to $28.2 Trillion Over Next Decade In 2009 when Barack Obama became president the debt was $10.63 billion. Currently, the debt ceiling has been suspended until mid-March which means the debt will rise further. "The total national debt when Obama leaves office in January is expected to approach $20 trillion by then," an article on Washington Examiner read. - Sputnik News
Barack Obama remains solidly on track to be the only president in all of U.S. history to never have a single year when the economy grew by at least 3 percent. Every other president in American history, even the really bad ones, had at least one year when U.S. GDP grew by at least 3 percent. But this has not happened under Obama even though he has had two terms in the White House.
The following are the yearly GDP growth numbers under Obama. They come directly from the official website of the World Bank…
2009: -2.8 percent2010: 2.5 percent2011: 1.6 percent2012: 2.2 percent2013: 1.5 percent2014: 2.4 percent2015: 2.4 percent
Does that look like a “recovery” to you? - Economic Collapse Blog
The 1990's became known historically for Japan as the Lost Decade, and they have never recovered their economic might that turned them into the second largest economy in the world during the 1980's. And unless something major changes for the next Presidential administration here in the U.S., this current ten year period for America will become its own lost decade, and signal the end of what was once the greatest economy the world had ever seen.