"The cost of our debt is one of the fastest growing expenses in the federal budget. This rising debt is a hidden domestic enemy, robbing our cities and states of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on."
- Barack Obama, Speech in the U.S. Senate, March 13, 2006
Almost one-year after Barack Obama was elected President and three years since Democrats took majorities in Congress, the Department of Treasury reports that under the Democrats' control, 2009 was the worst fiscal year in the nation's entire history. Democrats have abandoned their lofty promises to voters and continued their pattern of reckless spending and government expansion. The results have been historically disastrous.
$1.417 Trillion: The FY 2009 federal deficit, the highest amount ever and three times last year's record-setting deficit of $458 billion.
10%: The 2009 deficit as a percentage of Gross Domestic Product (GDP), the highest since 1945, the last year of World War II. Since 1946, the deficit as a percentage of GDP had never topped 6 percent.
$9.050 Trillion: The combined amount of deficits the White House predicts over the next ten years under the President's budget.
$739 Billion: The smallest annual deficit over the next ten years under the President's budget.
$11.952 Trillion: The current national debt, including Treasury securities held by the government.
$38,840: The amount of the national debt owed by each man, woman, and child in the U.S.
$104,094: The share of the national debt owed by every household in the U.S.
$3.282 Trillion: The amount the national debt has increased since Democrats took control of Congress on January 4, 2007.
$1.325 Trillion: The amount the national debt has increase since President Obama was inaugurated just nine months ago, on January 20, 2009.
$199 Billion: The amount of money spent by the government to pay the interest on its debts in 2009.
$12.104 Trillion: The current limit on national debt, which was raised from $11.315 trillion for the "stimulus" bill and which Democrats now say must be raised yet again soon.
$24.498 Trillion: The total national debt in 2019 under the President's budget, according to White House estimates.