How Obama's Policies Increased the Debt
However, there were some other events that Obama faced, just like every President, over which he had no control. There was less
Federal income, thanks to decreased tax receipts during the recession and to the
Bush tax cuts. At the same time, the cost of
Social Security, Medicare and other
mandatory spending continued to increase. The
War on Terror, although technically over, was still being fought in Afghanistan and the
War in Iraq.
The third, and smallest, method is how much debt was added thanks to Obama's specific policies. The largest contribution was the
Obama tax cuts, which were an extension of the Bush tax cuts. These added $858 billion to the debt in 2011 and 2012.
The next largest was the Economic Stimulus Act, which added $787 billion between 2009-2012. It cut taxes, extended
unemployment benefits, and funded job-creating public works projects. Both were attempts to stimulate the economy after the
2008 financial crisis
In addition, Obama increased
military spending to around $800 billion a year, on average. In fact, his security budget request of $895 billion in FY 2011 set a new record. Even though troops were withdrawn from Iraq in 2012, and Osama bin Laden was eliminated in 2011, Obama requested $851 billion for security spending in his FY 2013 budget -- more than in his first year in office. Although Obama abandoned the phrase "
War on Terror," he spent $602 billion -- almost as much as the $850 billion Bush spent in eight years.
Three ways to look at the debt added for any President.
National Debt Under Obama
BREAKING: Federal judge issues order halting deportation of Colorado antisemitic attack suspect’s family
