How high's the water, mama?
Five feet high and risin'
- Johnny Cash
Last month the national debt exceeded $18 trillion for the first time.
The national debt has doubled in the past seven years, from $9 trillion in August 2007.
The day Barack Obama was inaugurated, the total national debt was slightly more than $10.6 trillion.
The day George W. Bush was inaugurated, it was slightly more than $5.7 trillion.
During George W. Bush's eight years in office, the national debt increased some $4.9 trillion. So far during President Obama's six years in office, the national debt has increased some $7.4 trillion. So under our last two presidents, some $12.3 trillion of the $18 trillion in total debt has been accumulated.
Below is a table of the first day our country exceeded $5 trillion in debt back in 1996, and each day thereafter when we added another trillion to the debt.
The numbers speak for themselves. The consequences do not, but are obviously ominous. Either the Congress and the president will address this problem or we all will suffer those consequences.