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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Monday, January 02, 2012

U.S. Presidents Ranked by Budget Deficits

Rob Bluey, Heritage Foundation: Over the past 50 years, 10 U.S. presidents have made annual budget requests to Congress, projecting deficits both big and small. But no other president compares to Barack Obama when it comes to the size and scale of the current budget deficit facing the United States.

The country is facing an 8.3 percent estimated average national deficit of a two-term Obama administration — the biggest of the past 50 years. By comparison, the current estimate for Obama is nearly double the percentage under Presidents Ronald Reagan and George H.W. Bush — and they were fighting the Cold War.

Political party doesn’t tell the whole story, however. President Bill Clinton leads the pack of presidents since 1961, according to data from the White House Office of Management and Budget. Heritage put together this graphic as part of our Budget Chart Book.

So what does the current trajectory mean for the United States? We’re certainly no longer looking at a continuation of manageable deficits in the years to come. This is a dramatic change in the magnitude of annual shortfalls at the federal level. That’s one reason Heritage came up with a plan to fix the debt crisis.

Tags: Barack Obama, Bill Clinton, George W. Bush, George HW Bush. Ronald Reagan, Jimmy Carter, Gerald Ford, Richard Nixon, Lyndon Johnson, John F. Kennedy, budget chart book, budget deficits, Chart of the Week, cold war, Office of Management and Budget,  shortfall, Heritage Foundation, Robert Bluey To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 8:50 AM - Post Link

4 Comments:

Anonymous John H Hamilton said...

If you throw Obama out of it, the democrats have done much better than the republicans over the last 50 years, maybe republicans claiming to be fiscally responsible is an illusion

1/03/2012  
Blogger Bill Smith said...

OR you have to look at the make up of the Congress which originated the Spending Bill. Until LBJ declared war on poverty, the government seemed to have enough money to operate.

1/03/2012  
Anonymous Nicholas Stehle said...

Exactly, Bill. Clinton was only good on the deficit because Newt Gingrich was House Speaker and forced it on him.

1/04/2012  
Anonymous Mark Turner said...

The Reagan impact on the economy, Bush Sr but more than anyone (Clinton or Newt or even Reagan and Bush) the Internet and technology! We have an unlimited wealth in the unlimited nature of each and every individual, in the power of the mind to create and innovate, to produce with the holding back and the working together each building on and working together for each others individual and collective benefits. that's what in largest part fueled our economy. BUT do not over estimate the power of the PEACE dividend!!! With all that $ that was being spent on the cold war no longer being needed - wow. Make of it what may. Politicians are too quick on all sides to lay claim to you and me (or my father, brother, friends, and just fellow citizens).

1/04/2012  

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