(CNSNews.com) - The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. At the close of business on Oct. 3, the total national debt hit $14,837,099,271,196.71—up about $44.8 billion from Sept. 30.
That means that in the less than three years the Obama administration has been in power, the federal debt has increased by $4.212 trillion--more than the total national debt of about $4.1672 trillion accumulated by all 41 U.S. presidents from George Washington through George H.W. Bush combined.
This $4.212-trillion increase means that during Obama’s term the federal government has borrowed about an additional $35,835 for every American household and $44,980 for every full-time private sector worker. (According to the Census Bureau there are 117,538,000 household in the country, and, according to the Bureau of Labor Statistics, there are 93.641 million full-time private sector workers)...