Ending date, 2010.
You get three guesses. The first two will be either US government debt or US government debt. Both are equally wrong.
The winner is: Private debt and liabilities.
I got ya with that.
Private industry doubled its debt from 1999 through 2010.
What did the federal debt do in the same period? It didn't double. Well, I lied. It went from $5.6 trillion to $12.3 trillion.
But, in 1999, private industry debt was already $13.4 trillion. More than the government owed in 2010.
Just before Obama took office, private industry owed $28.7 trillion to its lenders and debt holders.
You ought to be telling me about how the rich grow the economy by creating jobs. I bet you already loaded up with the Obamablame Game power move #3, "But, but ... look at what Obama has done to damage our economy!"
Here's what the economy has done under Obama.
Load up the next turn in your ObamaBlame game. "But, but .... "
