Debt Has Grown by $5 Trillion in Four Years, Despite Obama’s Being “Committed to Continuing to Cut Our Deficit”

January 15, 2013

Fiction

“Building on the $2.5 trillion in deficit reduction he has already signed, President Obama is committed to continuing to cut our deficit….” (“White House Deficit Reduction Fact Sheet,” January 14, 2013)

Fact

Debt Held by the Public

January 2009                     $6.3 trillion
January 2013                     $11.6 trillion
Change                            +$5.3 trillion (84% increase)

(U.S. Department of the Treasury, accessed January 15, 2013)

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