Wednesday, 05 September 2012 03:45
WASHINGTON: Republicans pinned America's "crushing" fiscal burden squarely on President Barack Obama on Tuesday after the national debt passed $16 trillion just before the Democratic National Convention opened.
The US debt stood at $10.6 trillion when Obama took office in 2009, but by implementing an economic stimulus plan aimed at heading off a depression the figure has soared -- negating the president's pledge to halve it by 2012.
Total outstanding US public debt hit $16 trillion late Friday, but the Treasury only released the statistic on Tuesday, after a holiday-weekend.
The Republican National Committee and the campaign of Mitt Romney, the man challenging Obama for the White House in November's election, released a one-minute video highlighting Obama's own pledge to cut the debt in half by the end of his first term.
And it heaped pressure on his administration to explain the federal spending that has added around $5-trillion to the debt since Obama ...