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For the 13 presidents beginning with Truman, total job creation was about 70.5 million for the 7 Democratic presidents and 29.1 million for the 6 Republican presidents. The Democratic presidents were in office for a total of 429 months, with 164,000 jobs per month added on average, while the Republicans were in office for 475 months, with a ...
Between 1989-2020, the national debt soared by more than 800% as Congresses and presidents from both parties approved massive spending increases and massive tax cuts at the same time.
The CBO didn't address the tariffs' effect on total U.S. debt. But a forecast from June, estimated that federal deficits would total $22.1 trillion over the next 10 years. That means Trump tariffs ...
Allowing the Bush tax cuts to expire at all income levels would have a significant deficit reduction effect. In August 2010, CBO estimated that extending the tax cuts for the 2011–2020 time period would add $3.3 trillion to the national debt: $2.7 trillion in foregone tax revenue plus another $0.7 trillion for interest and debt service costs ...
As a percentage of the GDP, within the context of the national economy as a whole, the highest deficit was run during fiscal year 1946 at nearly 30% of GDP, but that rebounded to a surplus by 1947. By contrast, deficits during the 1980s reached 5–6% of GDP and the deficit for 2005 was 2.6% of GDP, close to the post-World War II average.
Source: "An Economic Ranking of U.S. Presidents, 1789-2009: A Data-Based Approach," Mark Zachary Taylor. As you can see, not many present-day presidents cracked the top 10.
The budget deficit in fiscal 2018 (which runs from October 1, 2017, to September 30, 2018, the first year budgeted by President Trump) is forecast to be $804 billion, an increase of $139 billion (21%) from the $665 billion in 2017 and up $242 billion (39%) over the previous baseline forecast (June 2017) of $580 billion for 2018. The June 2017 ...
The deficit last fiscal year was about $1.8 trillion. Billionaire Elon Musk, now an advisor to President-elect Donald Trump, lamented the debt, which is about $36 trillion, on X Monday.