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Obama Increased National Debt More in 4 Days Than Truman and Eisenhower Did in 10 Years

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Last week the Obama administration reportedly increased the national debt (in inflation-adjusted dollars) more in a mere four days than the administrations of Presidents Harry Truman and Dwight D. Eisenhower increased it from 1950-1960 -- an entire decade.

CNSNews crunches the numbers:

At the start of business on Tuesday, Aug. 2, according to the Daily Treasury Statement, the national debt subject to the legal limit was $14.293975 trillion. Obama signed legislation that day lifting the limit by as much as $2.4 trillion—with an initial and immediate increase in the limit of $400 billion. By the close of business on Friday, Aug. 5, according to the Daily Treasury Statement, the national debt subject to the limit had grown to $14.536130 trillion.

Over just four days, the debt had jumped $242.155 billion.

By contrast, according to the Bureau of the Public Debt, over the ten-year period from the end of fiscal 1950 to the end of fiscal 1960, the national debt grew from approximately $257.36 billion to approximately $286.33  billion—an increase of approximately $28.97 billion.

Using the Bureau of Labor Statistics inflation calculator, $28.97 billion in 1960 dollars equals $220.92 billion in 2011 dollars.

Thus, the $242.155 billion in 2011 dollars that the Obama administration increased the debt between last Tuesday and last Friday is more in inflation-adjusted terms than the combined debt increases of the Truman and Eisenhower administrations in the ten-year period from the end of fiscal 1950 to the end of fiscal 1960.

That's quite a legacy the President will be leaving...

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