Barack Obama's Empty Promises - Debt and Deficits

Although the national debt under President Barack Obama has increased $4 trillion since he took office in 2009, as a presidential candidate in 2008 Obama criticized then-President George W. Bush for adding $4 trillion to the national debt, saying it was “unpatriotic” and also “irresponsible” to saddle future generations with such a large national debt.

“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents -- number 43 added $4 trillion dollars by his lonesome, so that we now have over $9 trillion dollars of debt that we are going to have to pay back -- $30,000 for every man, woman and child,” Obama said on July 3, 2008, at a campaign event in Fargo, N.D.

“That's irresponsible. It's unpatriotic,” said candidate Obama.

July 3, 2008

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