Breaking: National Debt Tops $16 Trillion As Democrats’ Party Begins
September 4, 2012 - 1:28 pm
There it is: Barack Obama’s most enduring legacy.
The Treasury Department said Tuesday that the federal government has now officially topped $16 trillion in debt.
The announcement, which came just an hour before Democrats gaveled in their convention in Charlotte, N.C., to renominate President Obama for another four-year term, immediately boosted the government’s grim fiscal picture back to the fore of the national debate.
The federal government has not had a budget in more than three years, yet has spent $5.4 trillion on this single president’s watch.