The Washington Times: US domestic debt doubled Obama era to 20 trillion dollars

The Washington Times: US domestic debt doubled Obama era to 20 trillion dollars

02/11/2015 11:32 GMT

The Washington Times - US domestic debt doubled Obama era to 20 trillion dollarsAgencies – The Washington Times newspaper, said that the total national debt has doubled in the United States during the presidency of Barack Obama, for up to $ 20 trillion, which avoided as long as the US president to talk about.
US paper adds that when Obama signed your new budget for two years, Monday law, this matter will shed a strong light on the part of his legacy, who does not like to talk about is that “a man of 20 trillion dollars.”

And it suggests that private spending scheduled between Obama and congressional agreement, will spend the suspension of the country’s debt ceiling and allow the Treasury to borrow $ 1.5 trillion by the end of the presidential term beginning in 2017.

In addition to the loan amount to the domestic public debt which currently stands at more than 18.15 trillion dollars. When Obama took over the presidency of the United States in January 2009, the total size of the national debt to $ 10.6 trillion, which means that the debt has doubled during his eight years in office, US President.

He criticized some federal officials, the private spending of the new agreement, said House Sepp, President of the Federation of national tax payers, if Congress and the president agreed to undo one of the successful for decades the only fiscal discipline mechanisms. ”

Adding that progress on spending cuts and the deficit has become much more difficult. Some scoffed at the claim of the US administration and the outgoing chairman of the House of Representatives, John Bonaire, that the budget agreement resulting from increased spending B112 billion, is fully funded by the budget cuts in another part. Paul said Winfrey, economic and political director of studies at the Heritage Foundation, said that Obama Boehner agreement allows borrowing is limited by the Ministry of Finance until March 2007. He added that this agreement more than piles of billions of dollars in national debt through increased spending over the next three years.