For the record, the national debt was $10.626 trillion the day Obama took office. Bush increased it by $4 trillion during his entire 8-year presidency and Obama demonized him. But by the time Obama looks at his calender on January 20, 2013 (hopefully his last day in the White House), he will have racked up more than $6 trillion in just four years.
At what piont will it matter and become mid/long term? Think it's stating to happen right now!! Granted, QE has and will keep interest rates down, but for how long? When will our bond auction fail?