U.S. debt has now surpassed $18 trillion.
Under President Barack Obama, America’s debt has skyrocketed 70%.
On the day Obama took office, January 21, 2009, Zero Hedge reports U.S. debt stood at $10.625 trillion. The national debt cleared $18 trillion for the first time on Black Friday.
In March, the Congressional Budget Office (CBO) projected that the Obama U.S. debt explosion would result in interest payments on U.S. debt quadrupling by 2024 to a stratospheric $880 billion a year, a sum 105 times bigger than the FBI’s budget.
Still, Obama contends his economic policies have been a boon to America.
“By every economic measure, we are better off now than when I took office,” said Obama in October.