[rXpX]

Uh oh Obaaaamabots:

Obama adds $3 trillion to national debt in less than 2 years

New numbers posted today on the Treasury Department website show the National Debt has increased by more than $3 trillion since President Obama took office.

The National Debt stood at $10.626 trillion the day Mr. Obama was inaugurated. The Bureau of Public Debt reported today that the National Debt had hit an all time high of $13.665 trillion.

Mr. Obama frequently lays blame for soaring federal deficits on his predecessor.

“By the time I got into office we already had a $1.3 trillion deficit and we had exploded the national debt,” he said last month during one of his backyard chats with Americans.

But, as CBS points out, Obama has already added 60% of the debt in two years that Bush added in eight, and Obama is on track to add a trillion dollars more in his first term than Bush did in two:

The Debt increased $4.9 trillion during President Bush’s two terms. The Administration has projected the National Debt will soar in Mr. Obama’s fourth year in office to nearly $16.5-trillion in 2012. That’s more than 100 percent of the value of the nation’s economy and $5.9-trillion above what it was his first day on the job.

Clearly, while Republicans have been somewhat irresponsible in running up debt, Democrats have managed to be almost three times worse than Republicans. Just as clearly, they have no intention to cut spending to correct this, but instead plan to hike taxes to fund their spending spree. And they’re being led by a President who wants to spend even more, as his own budget projections show. http://hotair.com/archives/2010/10/1...-than-2-years/