Terry Jeffrey writes in an April 13 CNSNews.com article, under the headline “Obama’s Increasing Federal Debt $1,148 Per Month Per Household—Enough to Buy a Car or Pay Tuition at State College”:
Under President Barack Obama, the federal debt has been increasing at a rate of $1,148 per month per American household.
Overall, according to the U.S. Treasury, the federal debt increased by $3,646,116,554,704.36 between Jan. 20, 2009, when Obama was inaugurated, and April 13, 2011, when he gave a major speech announcing a plan to deal with the debt.
Jeffrey, as we pointed out the last time he did this, is falsely attributing responsibility for all deficits since Obama took office to the Obama adeministration. In fact, much of the fiscal year 2009 deficit was driven by actions (like TARP and the Bush tax cuts) that occurred under the Bush administration.