Natalie Gonnella
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The President may be vacationing with his family In Massachusetts this week, but that doesn't mean the country's debt problem has taken it easy by any measure.
As the Obama's enjoy all that Martha' Vineyard has to offer, according to the latest calculations using updated Treasury Department figures (c/o CBS's Matt Knoller), the national debt now stands at $14,639,000,000,000 (and counting).
And while President George W. Bush saw an increase of $4.9 trillion during his time in office (a fact President Obama likes to regularly highlight as an excuse for the country's current economic concerns), as Andrew Malcolm points out today in the LA Times, it took Bush 2,648 days and two terms to reach that total. President Obama is enroute to easily surpass that amount well before the 2012 election.
With a total increase of $4,247,000,000,000 in just 945 days in office, the current administration officially earns the award for the fastest debt increase under any president in history.
And as RedState contributor Daniel Horowitz noted on Twitter, at a rate of about $3 million per minute "it took just 37 hours for the Treasury to eat up the $6.67 billion in savings from [the] debt deal." A little more than bad luck considering the Budget Control Act was signed barely three weeks ago.
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