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On-Budget Debt: 3x Since 1/20/2001

Posted on August 22, 2015

A nice summary:

We used the Treasury Department’s Debt to the Penny clock, which is a daily log of federal debt going back about 20 years. The debt held by the public and gross federal debt (which includes debt held by the public and intragovernmental holdings) are both considered appropriate measurements. But we only have data that goes back far enough for the gross federal debt, so we’re going to stick with that measure.

When Bush’s term started Jan. 20, 2001, the gross federal debt was $5.73 trillion. At the end of his term, Jan. 20, 2009, the gross federal debt was $10.63 trillion. This means that the debt just about doubled under Bush.

The gross federal debt under Obama — as of April 7, 2015 — is $18.15 trillion. So, the debt is a little more than triple what the debt was when Bush took office in 2001, $5.63 trillion.

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