Okay I’m lost here. Obama INCREASED our national deficit, how in the world is that considered helping us?
The first thing you notice when looking at the federal deficits from fiscal 2007 (the U.S. government fiscal year ends in September) is that it increased by almost $1 trillion from fiscal 2008 (two months before Obama was elected and four months before he was sworn in) to fiscal 2009. It remained over $1 trillion per year for four years and got below Bush’s last years deficit in fiscal 2015. It continued to decrease until Obama’s last year and has increased in Trump’s first year in office.
Fiscal 2007: $161 billion (next to last year of Bush’s second term)
Fiscal 2008: $459 billion (beginning impact from the Great Recession)
Fiscal 2009: $1.4 trillion (Obama’s first year and in the teeth of the Recession)
Fiscal 2010: $1.3 trillion
Fiscal 2011: $1.3 trillion
Fiscal 2012: $1.1 trillion
Fiscal 2013: $680 billion
Fiscal 2014: $485 billion
Fiscal 2015: $438 billion
Fiscal 2016: $587 billion
Fiscal 2017: $666 billion (Trump’s first year of his Presidency)
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It is clear that the almost $1 trillion jump between fiscal 2008 and 2009 was due to the Great Recession. Tax receipts fell, expenditures rose and Obama and Congress passed the American Economy and Reinvestment Act to combat the recession.