Nostra
Diamond Member
- Oct 7, 2019
- 68,450
- 58,714
- 3,615
The recession was officially over in June 2009. Obama’s recovery was the worst ever.$5 trillion this fiscal year alone. Funny how silent the right is now about this when they bitched and moaned hourly as Obama drove up the debt $9 trillion in 8 years.U.S. budget deficit hits all-time high of $864 billion in June
The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues.www.cnbc.com
The clock is ticking for those enormous deficits to matter again. It's what happens when a Dem is in the WH.
Where were you when barry doubled it?
Hmmm. I remember something called a recession being around when Obama first took office. I also remember the deficit numbers coming down the last three years that Obama was in office.
I remember prior to the pandemic, Trump was on track to inflate the deficit to almost 1.2 trillion. Pretty sure Republicans and conservatives have no leg to stand on here.
Rump is no Conservvtiave and is spending like a drunken saior but your Boy Bambi spent his share. These people ALL work for the same peole and it ain't us.
Barack Obama
President Obama had the largest deficits. By the end of his final budget, FY 2017, his budget deficits totaled $6.781 trillion. That's a 58% increase.
Obama took office during the Great Recession. He immediately needed to spend billions to stop it. He convinced Congress to add $253 billion from the economic stimulus package to Bush’s FY 2009 budget. The American Recovery and Reinvestment Act added another $534 billion over the rest of Obama’s terms.6
In 2010, the Obama tax cut added $858 billion in deficits in its first two years. Federal income decreased due to lower tax receipts from the 2008 financial crisis.
Both Presidents Bush and Obama suffered from higher mandatory spending than their predecessors did. Social Security and Medicare benefits were eating up more of the budget. Health care costs were rising as the American population aged.
In 2010, Obama signed the Patient Protection and Affordable Care Act.7 It sought to reduce health care spending. The Congressional Budget Office and the Joint Committee on Taxation estimated that the legislation would reduce federal deficits by $337 billion between 2017 and 2026.
U.S. Budget Deficit by President
Here are the budget deficits for each president back to Woodrow Wilson. Obama had the highest dollar increase, but Wilson had the biggest percentage rise.www.thebalance.com
This has already been covered. The deficit came down for three straight years 2013-2015). All the while having to deal with the mess that Bush Jr left behind.
But don't worry, I'm sure when a Democrat is back in you'll go back to caring about deficits and debt.
He sucked, deal with it.