And, CBS news isn't some far right web blog. Do we need any further proof, that as many Republicans keep trying to say, "we have primarily a spending problem, not a taxing problem."(CBS News) The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency. The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.
The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.
The federal budget sent to Congress last month by Mr. Obama, projects the National Debt will continue to rise as far as the eye can see. The budget shows the Debt hitting $16.3 trillion in 2012, $17.5 trillion in 2013 and $25.9 trillion in 2022.