site<\/a>\u00a0tracks how much the US debt grows in real time. It shows that when Obama entered the Oval office in 2008, the national debt stood at $10.7 trillion. Thus, the increase is 86 percent.<\/p>\nBy the time Donald Trumps is sworn in, the debt will have grown to almost $20 trillion.<\/p>\n
The largest budget item is Medicare\/Medicaid which has seen over $1.1 trillion added to US debt. Social Security accounted for $900 billion, while $585 billion was spent on defense and war.<\/p>\n
With some of the payments attributable to George W. Bush\u2019s bills, many economists say vast spending during the 2008 financial crisis helped the American economy to mitigate its consequences.<\/p>\n
However, many are concerned such spending will affect taxpayers. At the moment, every US citizen owes over $205,000 with $7,600 interest, with every American family owing nearly $810,000.<\/p>\n
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