Sometime on Friday, the federal government crossed the $16 trillion debt barrier, with the official announcement that it hit $16,015,769,788,215.80 by the end of Friday made today. Less than 4 short years ago, it was $10.6 trillion.
The Republican National Committee decided to quote President Obama extensively for this occasion:
Let’s see; 4 years of $1.1 trillion-plus deficits (none of which qualifies as “cutting the deficit in half”), more publicly-held debt added under Obama ($4.965 trillion) than total debt added by any previous President – yep, Teh SCOAMF is a real success story…if your definition of “success” is “make it nigh impossible to dig out from governmental excess”.
