Welcome to VoteFacts. At the Republican National Convention, Ohio Governor John Kasich had this to say about Barack Obama and our national debt, "President Obama has doubled the national debt... each year he is increasing that by $1 trillion".
You can watch the video in its entirety by dragging the start button backward.
We have touched a lot on the debt already, but every time we hear a new way for someone to talk about it in the media, we will help you weed through it.
Has the national debt doubled since President Obama became president? And, has he increased it by $1 trillion a year? Let's look:
• Between January of 2009 and August 27, 2012, total public debt outstanding went from $10.626 trillion dollars to $15.975 trillion dollars, an increase of more than $5 trillion dollars before the end of his first term. TreasuryDirect.gov
Now the second part - Under his leadership, is the debt increasing by $1 trillion a year?
The total under his watch has been (rounded) $5.349 trillion dollars. He has been in office less than 4 years, but we'll give him the total of 4 years here. That means that he has increased the national debt by $1.3 trillion a year. This roughly coincides with the annual deficits under President Obama's leadership, which have been: 2009 = $1.412 trillion; 2010 = $1.293 trillion; 2011 = $1.299 trillion. OMB Table
To throw a nice wrench into your decision making today, here is what the Congressional Budget Office had to say back in June of 2012:
• Debt held by the public will stand at 73 percent of GDP at the end of the year—about twice the 36 percent of GDP it measured at the end of 2007. CBO, Page 5
We are asking you to vote on 2 questions here. So head on over and do that.
VoteFacts original post date: August 29, 2012