Ouch: National debt has increased $4 trillion under Obama

It took Bush 8 years to rack up a large deficit. Obama is going to top W in record time. From CBS News: National debt has increased $4 trillion under Obama

he latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch.

The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion.

It's the most rapid increase in the debt under any U.S. president.

Obama himself has already overspent in 2 1/2 years what took Bush almost 8 years to do, and I am in no way a fan of Bush on issues of spending or immigration. In another comparison, as was done jut the other week, Obama Increased National Debt More in 4 Days Than Truman and Eisenhower Did in 10 Years. This comes on the heels of recent news: Great News: US Budget Deficit Hits $1 Trillion for Third Consecutive Year. Two Months Left For Obama To Set The Record! And it's only August, so there's still time for Obama to set a record to top his own:

Obama's only legacy will be the destruction of the American institution, from unconstitutional takeovers like with ObamaCare and the Dodd-Frank monstrosity, to the massive debt that will enslave future generations. More from The Lonely Conservative, Weasel Zippers and Doug Ross

UPDATE: Via Instapundit:

BYRON YORK: Spending, not entitlements, created huge deficit.

It’s conventional wisdom in Washington to blame the federal government’s dire financial outlook on runaway entitlement spending. Unless we rein in Social Security, Medicare and Medicaid, the conventional wisdom goes, the federal government is headed for disaster.

That’s true in the long run. But what is causing massive deficits now? . . . The bottom line is that with baby boomers aging, entitlements will one day be a major budget problem. But today’s deficit crisis is not one of entitlements. It was created by out-of-control spending on everything other than entitlements. The recent debt-ceiling agreement is supposed to put the brakes on that kind of spending, but leaders have so far been maddeningly vague on how they’ll do it.

This issue could be an important one in the coming presidential race. Should Republicans base their platform on entitlement reform, or should they focus on the here and now — specifically, on undoing the damage done by Obama and his Democratic allies? In coming months, the answer will likely become clear: entitlements someday, but first things first.

Read the whole thing.