As of 4/30/2013 Government Debt accumulated since Jan 1st is $396,115,446,614.80 - so yes, we are well on our way to adding another 1.2 Trillion in this calendar year. For the first 7 months of the Fiscal Year, which begins Oct 1, the debt is $762,604,089,798.10. The Official debt is at 16,828,845,497,183.90 - so in a month or so we will pass 17 trillion.
Amount of Debt since the the Day Obama took Office? $6,201,968,448,270.82
Total Debt of the entire 8 Year Bush Term inauguration to inauguration ? $4,901,104,747,205.59
For fiscal years (Oct-Oct) we have:
Bush: $ 6,146,460,016,578.81 or $4,528,055,109,811.94 if you properly assign the 2009 FY spending to the to the president who signed the budget for that year.
Obama : $4,908,326,332,864.48 or $6,704,620,430,056.21 if properly assigned.
Obama has averaged $4,648,322,804.75 of new debt every day of Fiscal year 2013. Bush Averaged $3,041,974,017.48 a day for his entire 8 years if you give him responsibility for FY 2009 + TARP , and $2,680,125,392.79 a day if you don't. Point is, even with TARP added, and with Obama's stimulus subtracted - assuming FY 2013 to be the "new normal" , the pace is accelerated. At this rate, Obama will surpass Bush's worst total in 266 days - easily by this time next year. And we still have another 3 years after that of this jackass. At the current rate of spending, we will have very close to a 1.7 Trillion dollar deficit this year, and each and every year after. - and that is before Obama-care really kicks in.
Does anyone really think we can add another 6.7 Trillion in debt over the next few years and the world markets will just accept it? Our Tax revenues, at best will show some 1-2% growth, and that is if you optimistically think Tax revenue will track GDP under massive new tax hikes that will destroy many businesses and put further pressure on welfare and unemployment.
Point. Of. No . Return.