Conservative
Type 40
I await the libtard spin...
The Facts About Budget Deficits: How The Presidents Truly Rank - Forbes
The Facts About Budget Deficits: How The Presidents Truly Rank - Forbes
Here are the ratios of deficit to GDP for the past five presidents:
Ronald Reagan
1981-88 4.2 %
1982-89 4.2
Average 4.2
George H. W. Bush
1989-92 4.0
1990-93 4.3
Average 4.2
Bill Clinton
1993-2000 0.8
1994-2001 0.1
Average 0.5
George W. Bush
2001-08 2.0
2002-09 3.4
Average 2.7
Barack Obama
2009-12* 9.1
2010-12 8.7
Average 8.9
As for spending itself...
during the George W. Bush years (2001-08), federal outlays averaged 19.6 percent of GDP
during the Clinton years (1993-2000), at 19.8%
Reagan, whose outlays never dropped below 21 percent of GDP in any year and averaged 22.4%.
Even factoring in the TARP year (2009), Bushs average outlays as a proportion of the economy was 20.3 percent
As for Obama, even excluding 2009, his spending has averaged 24.1 percent of GDP the highest level for any three years since World War II.
Americans can judge for themselves whether deficits are enormous but only if they have the facts.
In this case, there is no denying the order in which the last five presidents rank on the basis of deficits: Clinton, Bush 43, Bush 41 and Reagan in a virtual tie, and Obama.