Obama & Democrat Congress Preside Over Largest One-Day Debt Increase in History

Seriously, this has to stop or we’re financially doomed — if we’re not already:

The nation’s debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground.

The one-day increase for June 30 totaled $165,931,038,264.30 – bigger than the entire annual deficit for fiscal year 2007 and larger than the $140 billion in savings the new health care bill will produce over its first 10 years. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income.

Daily debt calculations jump and fall, and big shifts are common. But all three of the biggest one-day debt increases have occurred under the tenure of President Obama, and all of the top six have been in the past two years – an indication of just how quickly the pace of deficit spending has risen under Mr. Obama and President George W. Bush.

Hope & Change!

The Washington Times writer was even kind enough to assume the complete BS that the Obamacare bill will “save” money is true — which it isn’t — and to include the last five months of the Bush presidency. Bush certainly wasn’t overly thrifty with tax dollars, but Obama makes W look miserly.

This certainly is the most “transparent” presidency and Congress in history — it’s as clear as a bell that spending the US into oblivion is the plan, not an accident of irresponsible spending addictions.

Author: Doug Powers

Doug Powers is a writer, editor and commentator covering news of the day from a conservative viewpoint with an occasional shot of irreverence and a chaser of snark. Townhall Media writer/editor. MichelleMalkin.com alum. Bowling novice. Long-suffering Detroit Lions fan. Contact: WriteDoug@Live.com.