The deficit was on track to top $1 trillion the year I took office. — PolitiFact  National on Wednesday, July 27th, 2011. True. Yes, but Obama opposed Bush.  Barack Obama · "President Reagan did it (raised the debt ceiling) 18 times.  George W. Bush did it seven times." — PolitiFact National on Tuesday, July 26th,  2011.
Jul 25, 2011 ... But instead of using it to pay off our debt, the money was spent on trillions of  dollars in new tax cuts, while two wars and an expensive prescription drug  program were simply added to our nation's credit card. As a result, the deficit was  on track to top $1 trillion the year I took office. To make matters worse, the ...
Dec 8, 2014 ... So under Obama, the debt has increased 70 percent after nearly six years. But  let's look at what happened under Republican hero Ronald Reagan, using the  fiscal year numbers in the White House's historical budget tables. Size of national  debt when Reagan took office: $1 trillion. Size after six years: $2.3 ...
Apr 6, 2016 ... It's now 2.8 percentage points lower than it was in January 2009, when the  president first took office in the midst of the worst economic downturn since the ....  CBO projects that under current law, annual deficits will rise to $534 billion in the  current fiscal year, and will again top $1 trillion in 2022 and beyond.
Oct 27, 2017 ... A new analysis from the Bipartisan Policy Center adds new disaster relief  spending and the costs of GOP tax-cut plans to earlier projections from the  Congressional Budget Office. Its conclusion: The deficit could reach $1 trillion as  early as 2019 – four years earlier than the CBO calculated in January.
The deficit was on track to top $1 trillion the year I took office.