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In 1835, the national debt hit a low of $33,733 when Andrew Jackson was president. But the U.S. started borrowing again as the economy entered a recession in 1837.
These factors helped bring the United States federal budget into surplus from fiscal years 1998 to 2001, the only surplus years since 1969. Debt held by the public, a primary measure of the national debt, fell relative to GDP throughout his two terms, from 47.8% in 1993 to 31.4% in 2001. [1]
Inflation rose to a high of 4.7% during Johnson's presidency in 1968 (it reached 6.2% in 1969, but he was only president for the first 20 days of the year, of course).
The 2011 S&P downgrade was the first time the US federal government was given a rating below AAA. S&P had announced a negative outlook on the AAA rating in April 2011. The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011.
However, in real (inflation-adjusted) terms, the growth rate was faster at 1.6% in 2015–2016 versus the 0.3% in 2017–2018, as inflation was higher in the latter period. For all employees, which includes higher wage managers, the pattern is similar, with faster nominal growth in 2017–2018 at 2.7% versus 2015–2016 at 2.4%, but slower real ...
The average for his entire four-year term was $2.57, or $2.67 if you omit the peak-COVID era from his last 10 months in office when nearly nonexistent demand sent prices crashing.
According to the Congressional Budget Office, the United States last had a budget surplus during fiscal year 2001, though the national debt still increased. [47] From fiscal years 2001 to 2009, spending increased by 6.5% of gross domestic product (from 18.2% to 24.7%) while taxes declined by 4.7% of GDP (from 19.5% to 14.8%).
From 1927 through 2016, the average excess stock market return (that is, the difference between the stock market return and the return on a risk-free investment) was 10.7% per year under Democratic presidents and -0.2% per year under Republican presidents. [26]