President Obama is on track to double the national debt by the end of his eight years in office. Currently at $19.4 trillion, the debt is projected to hit $20 trillion by Inauguration Day 2016, up from $10.6 trillion when Obama entered the White House on Jan. 20, 2009. Put in perspective, it means Obama will have added to the debt as much as all previous 43 presidents have done cumulatively.
Two graphs illustrate why many financial analysts are concerned. The first shows the steep climb in debt under Obama. The second shows the sharp rise in total U.S. credit market debt, including household debt and credit card debt, that has occurred since the 1980s. READ MORE
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