Yes, under President Obama, the U.S. ran up every month $100 billion in new debt. split it by 30 days a month (just to use the typical example), and it’s $3.3 billion in new debt daily. With this in mind, we get a news story from the NYT that the Obama Admin wants to forgive one billion dollars that Egypt owes the States.
That’s not all: “President Mohamed Morsi chose China for his first official visit outside of the Middle East, although a spokesman said the crisis in Syria was the main issue driving the visit. In addition to the debt assistance, the administration has thrown its support behind a $4.8 billion loan being negotiated between Egypt and the International Monetary Fund.”