Which modern U.S. President is responsible for racking up the most national debt the fastest?
That’s not as easy a question to answer as you might think, mainly because to be fair, you have to take inflation into account and also because the difference between Presidents for how long they were in office.
And then, there’s the problem of the size of the national debt itself, which is so large that it’s difficult to wrap one’s brain around!
So, to answer the question, we calculated the average annual change in the total public debt outstanding for the U.S. federal government per each U.S. household for each President from 1969 onward! The chart below reveals what we found:
What we find is that the “winner”, by nearly a three-to-one margin, is President Barack Obama, who has nearly tripled the real annual rate of increase in the national debt per U.S. household of the “second-place” finisher, President George H.W. Bush!
But then, is that really a record of achievement of which one could genuinely be proud?
This would be more effective if you would plot the date to reflect who rules the House and Senate, eg. in 2008 it was Senate Dem & House: Dem; in 2010 Senate Dem & House R. Expenditures vary more by control of House & Senate than by President. Would shed a different light on Bush. Let me know your thoughts please?
Adjust for income tax rate changes and normalize the per capita debt burden. I too know how to play with economic statistics, Using the ceteris paribus principle when making comparisons is the only way to understand fairly the numbers!
Well, folks, technically speaking, only CONGRESS (The LEGISLATIVE Branch of government) can spend money. SO, . . . . even though a president can “put a ring “through the nose of Congress, & lead Congress ANYWHERE HE WISHES, (that/is, when Congress is WIMPY enough to ALLOW this to BE DONE to it, . . . . ), only CONGRESS can pass law, & only CONGRESS can appropriate money, & only CONGRESS can DECLARE WAR!
SO, . . . . folks, let’s at least blame the RIGHT FOLKS for this #$%$# mess we’re in, . . . . . .
Please Also show National debt as % of GDP!
I’d also like to see the interest cost on the per capita debt in dollars and as a percent of debt!
He’s a “play-boy”, skipping and dancing, flinging money right and left through the seasons like the grasshopper played in the famous parable, while the “ant-people” the hard working American citizens do what is they can...to no avail though...so the comparison fails here...and the FEDS are bringing ruination with him.
Better get on our knees and pray for rescue from THE Almighty.
Conservative PROPAGANDA that is not even worth addressing..
Obama’s math is about as good as his policies.
So Carter did the best. And conservatives talk about how much of a failed presidency he had. Then Nixon, then Clinton. Conservatives MUST be spinning in circles
When divided by the number of months in office, the Spendthrift rankings are:
1. B H Obama
2. G H W Bush
3. Gerald Ford
4. R W Reagan
5. G W Bush
6. W J Clinton
and those who spent less than paid in in taxes:
7. R M Nixon
8. J E Carter
[...] full post on MyGovCost | Government Cost Calculator October 4th, 2012 | Tags: Debt, Racking, record | Category: Of [...]
If your sole purpose is to overwhelm and collapse the system, then yes, being number one is that important. One has to believe that by the policies enacted, and the dramatic increase in unbudgeted spending (not to mention not having a budget at all) which has taken place for nearly four years under this regime, one can only conclude it is.
I’m actually surprised the debt hasn’t been run up higher than it is; but the regime isn’t out of office yet either.
I guess Republicans came up with this graph. Funny!
Actually, believe it or not, I’m in FAVOR of these massive government debts and defeceits. Here is why: Everyone knows that these debts will eventually end in one of two ways; either hyper inflation or default. So too many pundits are screaming that the budget must be balanced. But a balanced budget will allow this government and all its stupidity to survive. This is a totally unacceptible situation. This government and all that goes with it must be so completely discredited, it must so sicken the American people, that Americans never again look to government as a solution to any problem. Otherwise, we will face this problem again in a generation. Our only hope for ridding ourselves of this horrible tyranny is total economic collapse. And these huge debts are hastening that collapse, and rid us of the Leviathan that much sooner. So, bring it on Obama! Let’s see how much MORE you can spend.
If you have Facebook, there is a group with 200+ thousand members called: Cancel Student Loan Debt to Stimulate the Economy There is also a petition which you can find there.
Jack,
You’re just another “look the other way” Democratic idiot! Sorry moron but your so called leader is a hard core failure! The proof is pretty much in your face!!!!
Kevin,
You’re an idiot also. You Lying Anti-American Democrats will do anything it takes to cover up the stink of your own gutless party. One Republican squeezes out a crooked f*** and your liberal nose is right there to sniff it in and blow it out of proportion!
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This is more of the Arsonist (bush) and the Fireman (Obama) propaganda. The ruins were created pre-Obama. Poor analysis. When did the Great Recession begin? Why is it called Great? It originated from a not-so-Great President. It’s expensive extinquishing the Great Recession. If it weren’t for SNAP cards, it would be properly called a depression. Don’t blame the Fireman.
Snap shot economics is the above. Sensationalism.