The Deficit President
11:20 AM, May 29, 2012 • By JEFFREY H. ANDERSON
Now that President Obama has brazenly claimed that “federal spending since [he] took office has risen at the slowest pace of any president in almost 60 years,” it is worth succinctly revisiting his historic record of fiscal profligacy. Here are a few key facts, all based on official federal government tallies:
Under the 43 presidents prior to Obama, the deficit hit $500 billion only once (in 2009 — and even that involved Obama, whose $787 billion “stimulus” kicked in that year). Under Obama, the deficit has exceeded $1 trillion every year.
Even in inflation-adjusted dollars, every deficit under Obama has exceeded any deficit we ran during World War II.
As a percentage of the Gross Domestic Product (the deficit-spending comparison that’s most favorable to Obama), the only times in more than 200 years of American history that the deficit has exceeded 6.0 percent of GDP have all involved either the Civil War, World War I, World War II, or Obama.
In all, deficit spending during Obama’s four years in the White House (based on his own figures) will be an estimated $5.170 trillion — or $5,170,000,000,000. If you take that tally and divide it evenly among the roughly 300 million American citizens, that works out to just over $17,000 per person — or about $70,000 for a family of four.
This chart shows how Obama stacks up against other presidents across the past 60 years — again, based on official government tallies:
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