When Barack Obama was sworn-in on January 20th of last year the national debt totaled about $10.6 trillion. We now owe more than $13.6 trillion. What happened? The tax-and-spend president and his tax-and-spend Congress have actually managed to rack up $3 trillion in debt over just two years.

New numbers posted today on the Treasury Department website show the National Debt has increased by more than $3 trillion since President Obama took office.

The National Debt stood at $10.626 trillion the day Mr. Obama was inaugurated. The Bureau of Public Debt reported today that the National Debt had hit an all time high of $13.665 trillion.

Let’s put it another way: Over George Bush’s eight years in office, two of which saw Democrats in control of the purse strings,the national debt went up about $4.9 trillion. If Barack Obama serves eight years and spends at the current rate, we’re talking a total of $12 trillion of debt over the same period of time. Holy crap, Batman.

Now Barack Obama wants to say that we can’t extend Bush tax cuts because they would cost $700 billion over 10 years, or $70 billion per year. So we’re going to raise taxes and suppress economic growth in order to save $700 billion over a decade. But we’ll rack up $12 trillion in debt over eight years to expand entitlements and fill the pockets of Democratic financiers.