You are watching: How much did the debt increase under obama
U.S. President Barack Obama, previous President George W. Bush, previous President invoice Clinton and... <+> previous President George H.W. Bush attend the opened ceremony of the George W. Bush Presidential Center. Picture by Alex Wong/Getty Images
There are multiple databases that have actually dollar amounts of the federal debt. While lock have various numbers lock are as whole close to each other and also essentially show the same dollar transforms over the years. I am using info from the federal Reserve that St. Louis.
Impact native the good Recession
According to the U.S nationwide Bureau of economic Research, the great Recession started in December 2007 and ended in June 2009. Chairman Barack Obama to be sworn in top top January 20, 2009, so that had already started prior to he gone into office.
The first thing you notice when looking at the federal deficits from fiscal 2007 (the U.S. Federal government fiscal year ends in September) is the it enhanced by nearly $1 trillion from fiscal 2008 (two months prior to Obama was elected and four months before he to be sworn in) to fiscal 2009. It stayed over $1 sunshine per year for 4 years and got listed below Bush’s critical years deficit in budget 2015. It continued to decrease until Obama’s last year and has enhanced in Trump’s first year in office.fiscal 2007: $161 exchange rate (next to critical year of Bush’s 2nd term) fiscal 2008: $459 billion (beginning impact from the good Recession) fiscal 2009: $1.4 sunshine (Obama’s first year and in the this of the Recession)
fiscal 2010: $1.3 trillion Fiscal 2011: $1.3 trillion Fiscal 2012: $1.1 trillion Fiscal 2013: $680 billion budget 2014: $485 billion budget 2015: $438 billion fiscal 2016: $587 billion budget 2017: $666 billion (Trump’s an initial year of his Presidency)
It is clear that the practically $1 trillion jump between fiscal 2008 and 2009 was as result of the good Recession. Tax receipts fell, expenditure rose and Obama and also Congress passed the American Economy and also Reinvestment Act to combat the recession.
A much better way to analyze the federal debt
Using percentages is a much better way of analyzing data in a lot of of instances as that compensates as soon as the data set numbers are larger or smaller from each other. Commonwealth debt drops into this classification as it boosts over time. The compounding impact of development can make utilizing absolute number meaningless.
How lot did the complete deficit increase by every President due to the fact that Reagan
Again making use of data from the St. Louis federal Reserve, this are starting and ending federal debt numbers since President Reagan. I have computed the total percentage increase and the compounded yearly rate.
What the numbers show is that the total debt enhanced the many at 184% over 8 years and at the fastest rate under chairman Reagan at practically 14% per year. In fact, the 3 Republican presidents had the fastest growing debt top top a yearly basis.
Reaganbegan Presidency: $965 billion ended Presidency: $2.74 trillion enhanced 184% or 13.9% every year
H.W. Bushbegan Presidency: $2.74 trillion finished Presidency: $4.23 trillion raised 54% or 11.5% every year (only in office for four years)
Clintonstarted Presidency: $4.23 trillion ended Presidency: $5.77 trillion raised 36% or 4.0% per year
W. Bushstarted Presidency: $5.77 trillion ended Presidency: $11.1 trillion increased 93% or 8.5% every year
Obamastarted Presidency: $11.1 trillion finished Presidency: $19.85 trillion enhanced 78% or 7.5% per year
President Obama’s debt actually prospered at a slower annual rate than any type of of the Republican presidents even though there were events that negatively affected the deficit the started prior to he became President. The an excellent Recession is most likely the best of lock as can be checked out in the yearly deficit numbers. When all political leaders use data to support their positions, the sound bite that the blame doubled under Obama is really misleading.
See more: How Many Federal Judges Are There? The Judicial Branch
I provide independent study of technology companies and also was previously one of two analysts that identified the an innovation holdings because that Atlantic trust (Invesco"s high network worth group), a firm with $15 exchange rate under management. Before joining Atlantic Trust i was the internet Security software program analyst for Smith Barney (where ns authored the most an extensive industry report “Internet protection Software: The Ultimate web Infrastructure”) and also an companies Server Hardware analyst in ~ Salomon Brothers. Former to ending up being an same analyst, I invested 16 years at IBM in a selection of sales and also manufacturing positions. I have actually a B.S. In Industrial engineering from Stanford University and a Postgraduate Diploma in economics from the university of Sussex, England.