Since President Obama took office the national debt has increased by $3.7 trillion. To put that in perspective, it took the U.S. 216 years, from 1776 until 1992, to accumulate the same amount of debt that Obama has borrowed in 2.5 years.
It's higher than any time in American history, equaling more than 95% of our entire economy. We are currently borrowing roughly 40 cents of every dollar we spend and sending the bill to our children and grandchildren.
When the Balanced Budget Amendment failed in 1995 by one vote, the national debt stood at $4.9 Trillion. Since then, the national debt has nearly quadrupled, and in 2021, it is projected to stand at $26.3 Trillion.