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Four CBO charts with revenue, spending, deficit and debt information. The annual budget deficit fell significantly during the Obama administration, although debt relative to the size of the economy increased. Comparison of CBO 2009 deficit forecasts versus actual results 2009–2016.
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 ...
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.
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:
As of January 2011, the Congressional Budget Office (CBO) projected that if current laws remain unchanged, the federal budget will show a deficit of close to $1.5 trillion, or 9.8 percent of GDP. The CBO projects total revenues of $2.228 trillion and total outlays of $3.708 trillion for a deficit of $1.48 trillion for 2011.
As its members attempt to navigate the political minefield that is U.S. budget reform, things are already looking grim for President Obama's National Commission on Fiscal Responsibility and Reform ...
The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 ... the Obama administration was spending heavily to shore up the nation's banking system and limit the economic damage ...
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.