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Did Obama Double the National Debt?

Fact-Checking a Popular Email Claim

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President Obama Speaks At The Fiscal Responsibility Summit

President Obama Speaks At The Fiscal Responsibility Summit

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Updated February 23, 2011

A widely circulated email that began making the rounds in 2009 indirectly claims President Barack Obama tried to double the national debt in one year, presumably in his first budget proposal after taking office.

The email invokes the name of Obama's predecessor, former President George W. Bush, in trying to make its point about the Democratic president and the growing national debt.

See more: 5 Wacky Myths About Obama

Let's take a look at the email:

"If George W. Bush had proposed to double the national debt - which had taken more than two centuries to accumulate - in one year, would you have approved?

"If George W. Bush had then proposed to double the debt again within 10 years, would you have approved?"

The email concludes: "So, tell me again, what is it about Obama that makes him so brilliant and impressive? Can't think of anything? Don't worry. He's done all this in 6 months-so you'll have three years and six months to come up with an answer!"

Doubling Down on the National Debt?

Is there any truth to the claim Obama proposed to double the national debt in one year?

Hardly.

Even if Obama went on the most lavish spending spree imaginable, it would have been pretty difficult to double what had been the total publicly held debt, or national debt, of more than $6.3 trillion in January of 2009.

It just didn't happen.

See more: What is the Debt Ceiling

What about the second question?

Did Obama propose to double the national debt within 10 years?

According to nonpartisan Congressional Budget Office projections, Obama's first budget proposal was, in fact, expected to double the country's publicly held debt over the course of a decade.

Perhaps this is the source of confusion in the chain email.

See more: National Debt Versus Deficit

The CBO projected that Obama's proposed budget would increase the national debt from $7.5 trillion - about 53 percent of the nation's Gross Domestic Product - at the end of 2009 to $20.3 trillion - or 90 percent of the GDP - by the end of 2020.

The publicly held debt, also called the "national debt," includes all monies owed by the United States government to persons and institutions outside the government.

National Debt Nearly Doubled Under Bush

If you're looking for other presidents who nearly doubled the national debt, perhaps Mr. Bush is also a culprit. According to the Treasury, the publicly held debt was $3.3 trillion when he took office in 2001, and more than $6.3 trillion when he left office in 2009.

That's an increase of nearly 91 percent.

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