Who is the $20 Trillion Dollar Man?
You’d be surprised: it is Barrack Obama.
Now..let’s get the fact straight, Barrack Obama’s net worth is not $20 Trillion. Obama’s net worth is reported to be 12 million dollars.
Don’t forget, America has a lot of Millionaires than any other country in the world, and Obama, apparently, is in that club.
The Irony Of It All
The US President is seen as the most powerful person in the world. But here’s the irony-the most powerful person has been powerless to stop the United States Federal Debt from increasing.
As a matter of fact, the US federal debt doubled during Obama’s Presidency.
Lets look at the figures…and facts
US FED DEBT FIGURES
- When Obama took office in January 2009, US government debt was a touch over US$10 trillion.
- When he leaves in January 2017, he’ll be known as the ‘$20 trillion man’.
It took the US nearly a century to create the first US$10 trillion in debt, and it only took Obama eight years to add the same amount…well done Barack Obama.
What Was Obama’s View About US Federal Debt Before He Was Elected President?
You’d be surprised.
In March 2006 (10 years ago), as a US senator, Obama had this to say about the US’ burgeoning debt (which at the time stood at just over US$8 trillion):
‘The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. government can’t pay its own bills… I therefore intend to oppose the effort to increase America’s debt limit.’
If managing debt responsibility is the benchmark for leadership, Obama’s term as president has been — to use his words — a failure. In truth, it has been an abject failure.
That, folks, will be President Barrack Obama’s legacy: the $20 Trillion Dollar Man
Don’t believe what any politician says during the campaign trail.
Both Donald Trump and Hillary Clinton are consummate liars. How come the Democrats and the Republicans got it so wrong this time?
Oh well, that’s America 🙂
I like your site and this comment… Someone needs to get serious about debt reduction and entitlement reform, and it appears that neither candidate is that concerned with these issues.
Very true Glen,
It appears that politicians all over the world are intent on getting their countries into debt…a lot of debt in fact.
The next financial crisis will be a lot worse than what was seen in 2008-2009 period and this time, it will be the Governments that fail. Just my 2 cents.