(CNSNews.com) - The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30.
That means that in the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion--more than the total national debt of about $4.1672 trillion accumulated by all 41 U.S. presidents from George Washington through George H.W. Bush combined.
This $4.212-trillion increase in the national debt means that during Obama’s term the federal government has already borrowed about an additional $35,835 for every American household--or $44,980 for every full-time private-sector worker. (According to the Census Bureau there were about 117,538,000 households in the country in 2010, and, according to the Bureau of Labor Statistics, there were about 93,641,000 full-time private-sector workers.)
When Obama was inaugurated on Jan. 20, 2009, according to the Treasury Department, the total national debt stood at $10,626,877,048,913.08.
At the end of January 1993, the month that President George H. W. Bush left office, the total national debt was $4.1672 trillion, according to the Treasury. Thus, the total national debt accumulated by the first 41 presidents combined was about $44.8 billion less than the approximately $4.212 trillion in new debt added during Obama’s term.