Posted on | January 3, 2009 | 1 Comment
Over his eight years in office, George W. Bush presided over an 85.5 percent increase in the Gross Federal Debt.
When he was inaugurated on Jan. 20, 2001 the Gross Federal Debt was $5.728 trillion(1), or 57 percent of the $10.129 trillion(2) Gross Domestic Product (GDP).
On Jan. 20, 2009, the day of Bush’s departure, the Gross Federal Debt was estimated at $10.627 trillion(3), an 85.5 percent increase since his inauguration.
This debt is 73 percent of a projected GDP of $14.561 trillion(4), reaching a peak not seen since 1955 when the country was still winding down its World War II debt.