U.S. DEBT TOPS $16 Trillion -$5.4 trillion added under Obama

"Federal debt at the end of the current fiscal year will stand at $16.2 trillion—$6.2 trillion above where it was 4 years earlier," the Republican side of the Senate Budget Committee notes. "In the last 4 years, the debt increased by more than it did in the previous 17 years."

In a recent campaign television ad, President Barack Obama states, "I believe the only way to create an economy built to last is to strengthen the middle class. Asking the wealthy to pay a little more so we can pay down our debt in a balanced way." The last part--committing to pay down the national debt--is a promise Obama's reiterated throughout his presidency and campaign.

Yet, new analysis by the Republicans on the Senate Budget Committee contradicts the president's claim. According to the chart set to be released by the committee later today, the budget plan submitted to Congress by President Obama "would add $11 trillion" to the national debt: The analysis is based off what the president submitted to Congress last week--"OMB Fiscal Year 2013 Mid-Session Review," according to the chart.