Obama's Legacy - Debt

Since President Obama entered office on January 20, 2009, U. S. government debt held by the public has risen 89.879% — or approximately 90% — according to the last Daily Treasury Statement for Fiscal 2013 released October 1. Terry Jeffrey at CNSNews.com writes:

At the close of business on Sept. 30, 2013—the last day of fiscal 2013—the Daily Treasury Statement said the U.S. government debt held by the public was $11,976,279,000,000.

The $11,976,279,000,000 in U.S. government debt held by the public on September 30, 2013 was $5,668,968,000,000 more than the $6,307,311,000,000 in debt held by the public on Obama's first inauguration day.

That's an increase of 89.879 percent—or approximately 90 percent.

The U.S. Treasury divides the U.S. government's debt into two general categories: debt held by the public and intragovernmental debt.

Debt held by the public consists primarily of U.S. Treasury securities—including bills, notes and bonds—that the Treasury sells on the open market to everybody from individual families and investors to government entities in the People's Republic of China.

Intragovernmental debt is money the Treasury has borrowed from the Social Security Trust Fund and other government sources to pay for current government expenses.

Under Obama, intragovernmental debt has increased only about 10 percent, starting at $4,319,566,000,000 on January 20, 2009 and increasing to $4,761,904,000,000 by the close of business on Sept. 30, 2013.

Federal government debt, it appears, will be the Obama Administration's most notable legacy.