The President Makes It Clear

Fact Checking The President’s Press Conference: ‘We’ve Racked Up A Whole Bunch Of Debt’

PRESIDENT OBAMA: “We've Piled Up -- We've Racked Up A Whole Bunch Of Debt.  And There's A Lot Of Interest On That Debt.” (President Obama, Press Conference, 2/15/11)

TRUE!

PRESIDENT OBAMA: “We've Piled Up -- We've Racked Up A Whole Bunch Of Debt.” (President Obama, Press Conference, 2/15/11)10,627 Billion Dollars – Debt Level On Day One Of Obama Administration
14,083 Billion Dollars – Debt Level Today
26,346 Billion Dollars – Debt Level Set By New White House Budget
(“The Debt To The Penny And Who Owns It,” U.S. Treasury Department, Accessed 2/15/11)
(Fiscal Year 2012 Budget Of The U.S. Government Summary Tables, The White House, 2/14/10, P.203)

WHITE HOUSE BUDGET: ‘A Lot Of Interest On That Debt’
PRESIDENT OBAMA: “There’s A Lot Of Interest On That Debt.” (President Obama, Press Conference, 2/15/11)

WHITE HOUSE BUDGET: Table S-3. Adjusted Baseline By Category; Net Interest

2010: 196 [Billion Dollars]
2011: 205 [Billion Dollars]
2012: 240 [Billion Dollars]
2013: 322 [Billion Dollars]
2014: 421 [Billion Dollars]
2015: 505 [Billion Dollars]
2016: 584 [Billion Dollars]
2017: 661 [Billion Dollars]
2018: 730 [Billion Dollars]
2019: 798 [Billion Dollars]
2020: 863 [Billion Dollars]
2021: 928 [Billion Dollars]
(Fiscal Year 2012 Budget Of The U.S. Government Summary Tables, The White House, 2/14/10, P.174)

---

Tags: President Obama, national debt, interest on debt To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!