Guest post by Joe Hoft
What’s the difference between Presidents Trump and Obama? Approximately $1 Trillion! President Obama increased the US debt in his first 6 months by $1 Trillion more than President Trump!
As of today, President Trump has decreased the US Debt since his inauguration by (-$103) Billion.
President Obama on the other hand increased the US debt in his term for the same time period by $899 Billion.
Yes, that’s a difference of $1 Trillion!
However, it should be noted that the amount of US debt reported under President Trump is the same amount that has been reported for the last 4 months in a row. The amount of US debt under President Trump decreased by as much as $101 billion between January 20th (the date of President Trump’s inauguration) and March 15th. However, for the 4 months between March 15th and July 15th the amount of US debt did not materially change. During this entire 4 month period the debt stayed the same.
Under President Obama, the amount of US debt stayed the same for long periods at a time when the debt reached levels that were near the US debt limit. The Obama Administration was suspected of ‘cooking the books’ to keep the government running rather than reporting the true amount of the US debt which would have resulted in a constitutional crisis and possible government shutdown.
from CapitalistHQ.com http://ift.tt/2ttJbjV