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Since 1981, federal budget deficits have increased under Republican presidents Ronald Reagan, both Bushes, and Trump, while deficits have declined under Democratic presidents Clinton and Obama. The economy ran surpluses during Clinton's last four fiscal years, the first surpluses since 1969.
The budget deficit increased significantly as a percent of GDP and in dollar terms under President Trump, rising from 3.2% GDP and $585 billion in fiscal year 2016 at the end of the Obama Administration, to $984 billion and 4.7% GDP by fiscal year 2019.
This was the highest budget deficit relative to GDP (9.9%) since 1945. [54] The national debt increased by $1.9 trillion during FY2009, versus the $1.0 trillion increase during 2008. [55] The Obama Administration also made four significant accounting changes to more accurately report total federal government spending. The four changes were:
President Barack Obama's economic team released a massive 447-page report (link opens PDF) on the economy last week. The introductory text describes what you might expect from such a report: The ...
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Barack Obama (2009-2017) GDP growth: 1.0%. Unemployment rate: 4.7%. ... For instance, GDP growth was the fourth lowest under him (though much better than his predecessor). The poverty rate was ...
Chart of BLS job-loss data based on OFA's chart President Barack Obama and Vice President Joe Biden speak to state legislators about the implementation of the Recovery Act on March 20, 2009. The Congressional Budget Office reported in October 2009 the reasons for the changes in the 2008 and 2009 deficits, which were approximately $460 billion ...
A pie chart representing spending by category for the US budget for 2010 [citation needed Further information: Government spending Incoming President Barack Obama's budget request for FY 2010 totaled $3.55 trillion and was passed by Congress on April 29, 2009.