(London Telegraph) — $16.4 trillion – that’s the latest figure for America’s massive national debt. Nearly $6 trillion of this debt was racked up in the first term of the Obama presidency – a 50 percent increase. It is horrifying to imagine what the debt will be when Obama leaves the White House in 2016, unless Congress has the willpower to stand in the way.
Meanwhile, as the world’s superpower is literally drowning in debt, President Obama is basking in the warmth of the beaches of Hawaii, at an exclusive resort way beyond the financial reach of most Americans. The president pays the cost of his own family’s accommodations, but there are a large number of associated costs which are paid from the public purse.