Free Markets, Free People

5th year of $1 trillion plus government debt

How will this be spun?

By the end of the third quarter of fiscal 2012, the new debt accumulated in this fiscal year by the federal government had already exceeded $1 trillion, making this fiscal year the fifth straight in which the federal government has increased its debt by more than a trillion dollars, according to official debt numbers published by the U.S. Treasury.

Prior to fiscal 2008, the federal government had never increased its debt by as much as $1 trillion in a single fiscal year. From fiscal 2008 onward, however, the federal government has increased its debt by at least $1 trillion each and every fiscal year.

Bu … bu … but he has spent less money and created less debt than any president since Eisenhower. 

Right?

Forward.

~McQ

Twitter: @McQandO

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